Real People, a credit only micro-finance institution has launched a Sh2.5 billion, five-year public bond, the first tranche of Sh5 billion Medium Term Notes issue, to boost the company's lending capacity as demand for its credit facilities increases.
The bond offers both three and five year fixed and floating rate notes. Chief Executive Officer for East Africa Daniel Ohonde said positive market reception has been encouraging and demonstrates increased local investor confidence in the company's long-term value proposition.
"We have experienced exponential growth in our loan book over the past three to four years thus the need to source for funds to sustain this growth momentum in the long term," he said.
Starting from 2006, Real People has registered double digit growth in both client base and size of the loan book which currently stands at 13,000 active customers and a gross loan book of Sh2.5 billion.
