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Standard Chartered Bank to raise sh40b in bond issue

By Vision Reporter

Added 25th November 2010 03:00 AM

KAMPALA-Standard Chartered Bank Uganda plans to issue a 40 billion shilling ($17.5m) bond which will be listed on the Uganda Stock Exchange (USE), the bank said in a statement on Thursday.

KAMPALA-Standard Chartered Bank Uganda plans to issue a 40 billion shilling ($17.5m) bond which will be listed on the Uganda Stock Exchange (USE), the bank said in a statement on Thursday.

The statement said the bank had received approval from the Capital Markets Authority, the industry regulator, to start a medium-term note programme and would place the bond on Dec.ember 2 with selected investors.

The notes are expected to expand the USE’s nascent fixed-income securities market. The exchange, which is the best performing stock market in Africa this year, has six corporate bonds listed so far.

Meanwhile, Zimbabwe will spend $135m to raise its power generation capacity to 1,650 MW in 2011 from current supply of around 1,000 MW, Finance Minister Tendai Biti said on Thursday.

“It is our intention to raise power generatioN in 2011 to 1,650 megawatts by prioritising the rehabilitation of the Kariba and Hwange stations as well as the small thermal stations in Bulawayo, Harare and Munyati,” he said in a budget speech.


Reuters


Standard Chartered Bank to raise sh40b in bond issue

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