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Safcom to drop ksh4bn bond to finance dividends - come again?
Wa_ithaka
#1 Posted : Wednesday, August 18, 2010 1:01:12 PM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Ati Safcom is going to issue a 4bn bond to pay for dividends?

http://af.reuters.com/ar...ws/idAFJOE67G0I520100817
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muganda
#2 Posted : Wednesday, August 18, 2010 1:06:12 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,906
Last year they went to the market to raise 12b in three tranches. Each tranche was supposed to be 5b, if I recall correctly. This should just be the 2nd of the 3 tranches.

Nothing untoward...
Results or last tranche announced here: http://uk.reuters.com/ar...le/idUKL233027920091102


Wa_ithaka
#3 Posted : Wednesday, August 18, 2010 1:08:25 PM
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Joined: 1/7/2010
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Location: nbi
Kwani they don't have cash to pauy for divitend?
The Governor of Nyeri - 2017
slykat
#4 Posted : Wednesday, August 18, 2010 1:15:29 PM
Rank: Member


Joined: 2/20/2007
Posts: 359
I guess it is a borrowers market and even those with cash may wish to take advantage of the low rates.
qw25041985
#5 Posted : Wednesday, August 18, 2010 1:16:50 PM
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Joined: 5/9/2010
Posts: 1,418
Location: Nai
A bond for dividends ,since when. I dnt think its for dividends. Thats absurd .
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Scubidu
#6 Posted : Wednesday, August 18, 2010 2:33:11 PM
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Joined: 9/4/2009
Posts: 700
Location: Nairobi
Not exactly absurd. That's what they did last year. There was a temporary deficiency in cash last year Q4 and as you recall the dividend was paid after they issued the bond.
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kyt
#7 Posted : Wednesday, August 18, 2010 2:58:48 PM
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Joined: 11/7/2007
Posts: 2,182
nkt.
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