Consolidated Bank will pay out the first yield to holders of its Sh1.7 billion bond issued last year on Monday.
Interest will be paid at fixed rates of 13.25 per cent on senior notes and 13.5 per cent on subordinated notes. Bondholders qualifying for the payout are those who were on the register at close of business yesterday.
The bond commenced trading at the Nairobi Securities Exchange in August 2012 on the Fixed Income Market segment. The bank had targeted to raise Sh2 billion in the first tranche of a Sh4 billion corporate bond but fell short, only raising Sh1.7 billion. When announcing the bond's listing, the bank said funds raised from the issue would be channelled to small and medium enterprises.