ARM cement $90 million MTN programme

Overview:

• ARM Cement, a Kenyan mining and manufacturing company, placed $90 million five-year floating rate notes as part of its Medium Term Notes programme.
• The placement included a $15 million greenshoe option. 
• The funds raised from this transaction will be used to retire expensive short-term debt, according to a November 17, 2015 Reuters article. 
• CfC Stanbic Bank, SBG Securities and NIC Capital acted as underwriters. 

Rani Mehta - Journalist