Safaricom’s medium-term note receives overwhelming response, applications hit 41.4 billion shillings

Safaricom PLC has received an overwhelming response for the first tranche of its newly launched medium term note programme. The first tranche was initially sized at 15 billion shillings, with a greenshoe option to raise an additional  5 billion, in case investor demand exceeded expectations. Following the closure of the offer period on December 5th, Safaricom says it has received applications totalling about  41.4 billion shillings. This, even larger than the 40 billion shilling ceiling set by the capital markets for the entire programme.