@Pretty;

The two year grace period refers to the time within which the bond will not pay back principal amount. After that,the principal will be paid back in 16 equal installments...once every six months for 8 years.

Interest will be paid immediately starting from April next year and every six months thereafter until the end of the bond's term [10 years]. However,note that after the initial 2 yrs,interest will be calculated on the principal amounts outstanding only...well it only fair,isn't it?

There is also a provision for Kengen to refund principal amounts earlier than scheduled..but this will only happen after the initial two years. It's a good hedge for the company,if they are able to secure a cheaper loan,they can retire the bond and take up the loan....

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)

@ Mukiha,

Ashante,you have answered a question that has been on my mind for a couple of days.

'We will surpass the 15 billion. We will then go on to the greenshoe,we are not too sure by how much,but the 15 billion,that is given,' Chief Executive Officer Eddie Njoroge

The thicker the thigh the sweeter the pie.

@Mukiha
Thanks Mukiha,that was well explained. You are great and have a good weekend.


>>>>>>It saves you hell if you treat new acquaintances as enemies consistently until each proves otherwise or confirms - Jsanchiazh.
>>>>>>>In life,there are three classes of people,those who make things happen,those who watch things happen and those who ask what happened. Where do you fall?