I&M Bank Limited has today listed the first tranche under its Kenya Shillings-denominated Medium-Term Note (“MTN”) Programme on the Nairobi Securities Exchange (“NSE”) marking the commencement of secondary market trading for the Notes and opening a new phase of investor participation in the instrument.
The listing on the NSE’s Main Fixed Income Securities Market Segment enables investors to buy and sell the Notes through the secondary market, subject to prevailing market conditions. With trading now open, investors may participate in the listed instrument from minimum bids of KES 50,000, broadening access to the Note beyond the primary offer period.
The listing follows a successful public offer that recorded an impressive subscription rate of 232.26%, attracting total applications of KES 23,225,850,000 against the planned first tranche amount of KES 10 billion. The strong performance underscores investor confidence in I&M Bank’s financial strength, governance, long-term strategy and market positioning.
Speaking during the NSE bell-ringing ceremony held to mark the listing, I&M Group Executive Director Mr. Sarit Shah said, “The listing of our MTN on the Nairobi Securities Exchange marks an important step forward for I&M Bank and for investors. It moves the Notes into an active trading environment, supporting liquidity, price discovery and broader participation in Kenya’s fixed income market. For I&M Bank, this milestone strengthens our long-term funding base and supports our iMara 3.0 strategy as we deepen leadership in Corporate & Commercial banking, build relevance in Retail and SME segments, and grow ecosystem-led solutions.”
Nairobi Securities Exchange Chief Executive Officer, Frank Mwiti, welcomed the listing, noting that it adds to the renewed momentum in Kenya’s corporate debt market.
“The listing of I&M Bank’s MTN is a further demonstration of the growing confidence in Kenya’s capital markets and the expanding role of corporate notes in mobilising long-term capital. Coming after successful issuances by Safaricom Limited, East African Breweries Limited and Kenya Mortgage Refinancing Company, this transaction reinforces the depth of investor demand and the increasing maturity of Kenya’s corporate bond market.”
Mr. Mwiti added that the continued return of strong corporate issuers to the market is helping rebuild confidence, diversify investment options and strengthen the capital markets’ role in financing private sector growth.
