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The East African : March 24th 2014
The EastAfrican 58 BONDS WEEKLY STATISTICS 21-MARCH-2014 GOVERNMENT OF KENYA FIXED RATE TREASURY BONDS Issue No. TWO YEAR BONDS FXD 1/2012/2Yr FXD 2/2012/2Yr FXD 3/2012/2Yr FXD 4/2012/2Yr FXD 1/2013/2Yr FXD 2/2013/2Yr FXD 3/2013/2Yr FXD 4/2013/2Yr FIVE YEAR BONDS FXD 1/2009/5Yr FXD 1/2010/5Yr FXD 2/2010/5Yr FXD 1/2011/5Yr FXD 1/2012/5Yr FXD 1/2013/5Yr FXD 2/2013/5Yr FXD 3/2013/5Yr SEVEN YEAR BONDS FXD 1/2007/7Yr EIGHT YEAR BONDS FXD1/2007/8Yr NINE YEAR BONDS FXD 1/2006/9Yr TEN YEAR BONDS FXD 1/2006/10Yr FXD 2/2006/10Yr FXD 1/2007/10Yr FXD 1/2008/10Yr FXD 2/2008/10Yr FXD 3/2008/10Yr FXD 1/2009/10Yr FXD 1/2010/10Yr FXD 2/2010/10Yr FXD 1/2012/10Yr FXD 1/2013/10Yr FXD 1/2014/10Yr FXD 1/2014/10Yr FXD 1/2014/10Yr FXD 1/2014/10Yr FXD 1/2014/10Yr ELEVEN YEAR BONDS FXD1/2006/11Yr Issue Date Maturity Date Issued Value in millions Coupon (%) Traded yield (%) Previous Price (%) Total Value traded (kshs) MARKETS MARCH 22-28,2014 CAPITAL INJECTION 30-Apr-12 27-Aug-12 29-Oct-12 24-Dec-12 25-Feb-13 25-Mar-13 26-Aug-13 24-Dec-13 21-Sep-09 24-May-10 30-Nov-10 31-Jan-11 28-Jan-13 29-Apr-13 1-Jul-13 25-Nov-13 30-Jul-07 26-Feb-07 24-Apr-06 27-Mar-06 29-May-06 29-Oct-07 29-Oct-07 28-Jul-08 29-Sep-08 27-Sep-09 26-Apr-10 1-Nov-10 25-Mar-13 26-Aug-13 27-Jan-14 27-Jan-14 27-Jan-14 27-Jan-14 27-Jan-14 25-Sep-06 TWELVE YEAR BONDS FXD1/2006/12Yr FXD1/2007/12Yr 28-Aug-06 28-May-07 FIFTEEN YEAR BONDS FXD1/2007/15Yr FXD2/2007/15Yr FXD3/2007/15Yr FXD1/2008/15Yr FXD1/2009/15Yr FXD1/2010/15Yr FXD2/2010/15Yr FXD1/2012/15Yr FXD1/2013/15Yr 26-Mar-07 25-Jun-07 26-Nov-07 31-Mar-08 26-Oct-09 29-Mar-10 25-Apr-11 24-Sep-12 24-Feb-14 28-Apr-14 25-Aug-14 27-Oct-14 22-Dec-14 23-Feb-15 23-Mar-15 24-Aug-15 21-Dec-15 15-Sep-14 18-May-15 23-Nov-15 25-Jan-16 22-May-17 23-Apr-18 25-Jun-18 19-Nov-18 21-Jul-14 16-Feb-15 13-Apr-15 14-Mar-16 16-May-16 16-Oct-17 16-Oct-17 16-Jul-18 28-Sep-18 15-Apr-19 13-Apr-20 19-Oct-20 13-Jun-22 19-Jun-23 15-Jan-24 15-Jan-24 15-Jan-24 15-Jan-24 15-Jan-24 11-Sep-17 13-Aug-18 13-May-19 7-Mar-22 6-Jun-22 7-Nov-22 13-Mar-23 7-Oct-24 10-Mar-25 8-Dec-25 6-Sep-27 7-Feb-28 6,418.05 16,312.35 13,786.50 20,777.16 20,468.11 19,967.33 17,927.92 25,252.12 13,239.10 3,060.25 14,929.20 22,083.10 17,687.98 20,165.56 12,888.00 14,946.55 8,269.85 13,764.30 2,656.90 3,451.05 5,028.10 9,308.80 2,992.75 13,504.70 4,151.80 4,966.85 19,394.15 18,849.90 10,520.46 526.69 15,030.28 15,030.28 15,030.28 15,030.28 15,030.28 4,031.40 3,900.95 4,864.60 3,654.60 7,236.95 18,030.20 7,830.90 9,420.45 10,206.45 13,513.10 21,089.45 29,778.42 13.826 11.114 12.496 12.382 12.844 12.940 12.939 11.553 9.5000 6.9510 6.6710 7.6360 11.8550 12.8920 11.3050 11.9520 9.7500 12.7500 13.5000 14.0000 14.0000 10.7500 10.7500 10.7500 10.7500 10.7500 8.7900 9.3070 12.7050 12.3710 12.1800 12.1800 12.1800 12.1800 12.1800 13.7500 14.0000 13.0000 14.5000 13.5000 12.5000 12.5000 12.5000 10.2500 9.0000 11.0000 11.2500 10.3083 100.8100 100.5716 101.2567 101.2929 101.8645 102.0512 102.8602 101.3111 10.6990 99.4421 95.1358 93.2911 94.0803 102.2100 105.2340 100.9868 103.3749 99.4454 100.6982 101.5717 103.6015 103.8476 96.3063 96.2835 98.1681 95.6244 95.6256 87.7453 87.7703 89.2343 11.6000 11.5000 11.6400 11.5250 11.6500 104.2884 103.7058 103.7058 103.7058 103.7058 103.7058 104.9760 106.8290 104.1910 111.7068 110.4242 105.3634 105.5178 103.8430 88.8318 73.7435 92.427 94.1647 250,000,000 200,000,000 300,000,000 200,000,000 500,000,000 9,000,000 5,000,000 A refurbished bakery inside Uchumi Supermaket. Most private equity firms prefer investing in the food and beverages sector. Picture: File Kenya leads as Africa’s private equity destination At least 84 deals we≥e sealed in 2013 in Af≥ica compa≥ed with 58 signed in 2012 By STEVE MBOGO Special Correspondent equity deals concluded in 2013, ahead of South Africa and Nigeria. Experts said this indicates K the growing profile of the East Africa region as a deal hunting territory. Tanzania, Ethiopia, Cote d’Ivore and Ghana are also emerging as favourites of private equity fund managers, according to the 2014 East Africa Private Equity Confidence Survey published by consulting firm Deloitte. Overall, East Africa region had 26 deals successfully concluded, followed by West Africa with 24 and Southern Africa with 19. However, West Africa ac- counted for the highest value of deals, at $545 million, followed by Southern Africa at $491 million and East Africa with $163 million. Private Equity funds closed 84 deals in 2013 compared with 58 deals in 2012. Of the total deals, 46 reported value of $3.69 billion. The rest did not report the value. “Confidence in private eq- uity in Africa is certainly increasing. Track records are deepening, growth is strong, risks are manageable and in- enya registered the highest number of private vestors continue to rate the region highly amongst their emerging markets options,” said Alexander Van Schie, the director of corporate finance services at Deloitte. He jointly authored the report with Andrea Bohnstedt, a partner at Africa Assets. “Going forward, we see more competition among PE fund managers in deal making because there are more funds available,” they noted in the report. “PE fund managers now need to be creative to find deals. They need to be flexible in their terms. For instance, some companies fear losing control if they partner with PE funds. So what should happen for instance, is for the managers to come in as debt partners and when the value of what they can bring into the business is seen, then the business owners are comfortable to invite them as equity partners,” said Mr Van Schie. According to the report, this year looks good for deal making in the region because a number of deals have already been confirmed. Majority of PE fund man- agers interviewed by Deloitte said that their focus will be on new investments in the next 12 months. “Respondents expect buy- ing more in 2014 rather than exiting. Majority of the managers report that their funds are in the investments and strategic growth phases and will therefore invest more in 2014,” said Ms Bohnstedt. Most PE managers said they will focus on food and beverage, agribusiness, retail, healthcare and pharmaceuticals and financial services sectors in East Africa. Fusion Capital last week invested about $2.8 million in the family-owned bakery GAL Baking Services of Kenya through both debt and equity for a 45 per cent stake. The money will be used to mordernise Nairobi-based bakery and increase its outlets to 15 from the current three. Demand for cakes, biscuits, cookies and other wheat products has been on an increase over the years in tandem with the change in consumer preferences. Fusion Capital funds small and mid-size enterprises within the East African region that require capital injections of between $25,000 and $25 million. DOB Equity, headquar- tered in Netherlands, is this week expected to launch its operations in the Kenyan market. The firm, which has recently opened a representative office in Nairobi to cover its East African operations, makes initial investments of $345,065 to $2.8 million per deal with the possibility of follow-on investments. Other deals announced this year in East Africa region include Catalyst Principal Partners acquisition of majority stake in Tanzania of a heavy equipment rental and logistics firm, Effco. Agri-Vie, the private equi- ty fund focused on food and agribusiness investments, announced a $5 million investment into Kariki Group, a specialist Kenyan flower exporting business.
March 17th 2014
March 31st 2014