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60 Pages«<585960
Briatm, Britam, Britam sounds like sweet candy!
VituVingiSana
#1181 Posted : Tuesday, October 30, 2018 12:24:36 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,099
Location: Nairobi
Horton wrote:
Realtreaty wrote:
Preparation to fully open the building ongoing.

Doing the snag points now in some areas and soon Wairegi, PORK Uhuru, DPORK Ruto, Raila and Senior owners will open the building from now to December 15.

Tenants are busy settling plus documentation of foreign firms willing to have offices there.

Is IBM booking a full floor?
Which Bank is the first to serve this village?


Lol realtreaty your posts should come with background music. Always quite dramatic & entertaining šŸ˜†
I would not pay to watch though! Laughing out loudly Laughing out loudly Laughing out loudly
I shall review Britam, as an investment, after the new IFRS rules are implemented.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ebenyo
#1182 Posted : Tuesday, October 30, 2018 12:46:58 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,458
Location: Kitale
VituVingiSana wrote:
Horton wrote:
Realtreaty wrote:
Preparation to fully open the building ongoing.

Doing the snag points now in some areas and soon Wairegi, PORK Uhuru, DPORK Ruto, Raila and Senior owners will open the building from now to December 15.

Tenants are busy settling plus documentation of foreign firms willing to have offices there.

Is IBM booking a full floor?
Which Bank is the first to serve this village?


Lol realtreaty your posts should come with background music. Always quite dramatic & entertaining šŸ˜†
I would not pay to watch though! Laughing out loudly Laughing out loudly Laughing out loudly
I shall review Britam, as an investment, after the new IFRS rules are implemented.


Kenya Re will definately end up to be a political ploy for politicians.Britam with benson wairegi, peter munga and a somwehat coy business strategy can be a considered investment.
Towards the goal of financial freedom
Angelica _ann
#1183 Posted : Tuesday, November 20, 2018 12:46:53 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,831
https://www.businessdail...418-115wch6z/index.html


Britam pays off Sh6.25bn bond ahead of maturity


Insurance group Britam Holdings has redeemed its corporate bond nine months ahead of its expected maturity date of July 15, 2019, paying investors, including Equity Bank

and Commercial Bank of Africa, a total of Sh6.25 billion.

The amount paid comprised the principal of Sh6 billion and interest of Sh255 million that had accrued since the last interest payment date of July 16, 2018.

Equity was the biggest investor in the insurerā€™s bond which had a fixed interest rate of 13 per cent per annum.

The bank bought bonds with a face value of Sh1.2 billion. It was followed by Commercial Bank of Africa (Sh410.4 million), Family Bank (Sh410.4 million) and Chase Bank (Sh164.1 million).

The bond also attracted local high-net-worth individuals who invested some Sh348.6 million in the securities.

Britam paid the principal and interest to bondholders who were on record as of October 4, 2018. Early redemption of the debt was made possible by the receipt of a Sh5.7 billion equity investment from private equity fund AfricInvest, which was allotted a 14.3 per cent stake in the insurer.

Britamā€™s borrowings, which stood at Sh8.5 billion in June, are expected to decline significantly following the retirement of the bond. The insurer will also save some Sh780 million in annual interest expenses that it used to pay the bondholders.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#1184 Posted : Tuesday, November 20, 2018 12:59:20 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,965
Location: NAIROBI
Angelica _ann wrote:
https://www.businessdailyafrica.com/corporate/companies/Britam-pays-off-Sh6-25bn-bond-ahead-of-maturity/4003102-4859418-115wch6z/index.html


Britam pays off Sh6.25bn bond ahead of maturity


Insurance group Britam Holdings has redeemed its corporate bond nine months ahead of its expected maturity date of July 15, 2019, paying investors, including Equity Bank

and Commercial Bank of Africa, a total of Sh6.25 billion.

The amount paid comprised the principal of Sh6 billion and interest of Sh255 million that had accrued since the last interest payment date of July 16, 2018.

Equity was the biggest investor in the insurerā€™s bond which had a fixed interest rate of 13 per cent per annum.

The bank bought bonds with a face value of Sh1.2 billion. It was followed by Commercial Bank of Africa (Sh410.4 million), Family Bank (Sh410.4 million) and Chase Bank (Sh164.1 million).

The bond also attracted local high-net-worth individuals who invested some Sh348.6 million in the securities.

Britam paid the principal and interest to bondholders who were on record as of October 4, 2018. Early redemption of the debt was made possible by the receipt of a Sh5.7 billion equity investment from private equity fund AfricInvest, which was allotted a 14.3 per cent stake in the insurer.

Britamā€™s borrowings, which stood at Sh8.5 billion in June, are expected to decline significantly following the retirement of the bond. The insurer will also save some Sh780 million in annual interest expenses that it used to pay the bondholders.


Related companies supporting each other
Angelica _ann
#1185 Posted : Tuesday, November 20, 2018 8:36:59 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,831
Ericsson wrote:
Angelica _ann wrote:
https://www.businessdailyafrica.com/corporate/companies/Britam-pays-off-Sh6-25bn-bond-ahead-of-maturity/4003102-4859418-115wch6z/index.html


Britam pays off Sh6.25bn bond ahead of maturity


Insurance group Britam Holdings has redeemed its corporate bond nine months ahead of its expected maturity date of July 15, 2019, paying investors, including Equity Bank

and Commercial Bank of Africa, a total of Sh6.25 billion.

The amount paid comprised the principal of Sh6 billion and interest of Sh255 million that had accrued since the last interest payment date of July 16, 2018.

Equity was the biggest investor in the insurerā€™s bond which had a fixed interest rate of 13 per cent per annum.

The bank bought bonds with a face value of Sh1.2 billion. It was followed by Commercial Bank of Africa (Sh410.4 million), Family Bank (Sh410.4 million) and Chase Bank (Sh164.1 million).

The bond also attracted local high-net-worth individuals who invested some Sh348.6 million in the securities.

Britam paid the principal and interest to bondholders who were on record as of October 4, 2018. Early redemption of the debt was made possible by the receipt of a Sh5.7 billion equity investment from private equity fund AfricInvest, which was allotted a 14.3 per cent stake in the insurer.

Britamā€™s borrowings, which stood at Sh8.5 billion in June, are expected to decline significantly following the retirement of the bond. The insurer will also save some Sh780 million in annual interest expenses that it used to pay the bondholders.


Related companies supporting each other



Why the bile yet they have recovered from the #Cytonn ripoff.

>>>>>

Cash-rich Britam retires Sh6 billion bond

Britam

will save hundreds of millions of shillings in interest payments after it retired early its Sh6 billion corporate bond, reflecting the firms increased cash flow.

The firm borrowed the Sh6 billion in 2014 and was to repay the facility on July 15 next year, shortening the period for paying interest that amounted to Sh780 million annually.

The repayment comes months after the firm, which has insurance, asset management and property development businesses, received Sh5.7 billion from a private Equity Fund AfricInvest for the sale of new shares.

Britam Chief Executive Benson Wairegi said the firmā€™s board decided to retire the five-year bond, which attracted an interest rate of 13 per cent because the investments made from the cash were generating attractive returns.

ā€œWe have a healthy balance sheet and a strong financial position. Investments conducted using the bondā€™s proceeds are also earning us handsome returns and this informed our decision to redeem the bond issued in June 2014,ā€ he said.

Britam used the funds for expansion in Kenya and the region, property development and investment in private equity, especially at the Nairobi Securities Exchange.


Britam acquired Sh10 billion land for property investments including office blocks, serviced apartments and malls.

The insurer also operates in Tanzania, Uganda, South Sudan, Rwanda and Mozambique.

ā€œThe early redemption of the notes is subject to the consent of noteholders and the timelines for the payment will be announced once this consent has been obtained,ā€ the firm said in a notice.

The firmā€™s shareholder funds rose 27 per cent to Sh28.6 billion in the six months to June amounting to an extra Sh9.6 billion during the period.

The firm owns shares in NSE companies including Equity Bank and Housing Finance.

Britam wants to go big in the booming property sector and reduce its reliance on the insurance business, which accounts for most of its earnings, and the equities market.

https://www.businessdail...728300-473gyv/index.html
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
rwitre
#1186 Posted : Thursday, January 10, 2019 1:45:40 PM
Rank: Member


Joined: 3/8/2018
Posts: 206
Location: Nairobi
Deep pockets taking advantage of bear to mop up and increae their holdings.

a.k.a averaging down kamikaze style Laughing out loudly

Quote:
AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.

Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.

The aggressive buying spree means that AfricInvestā€™s total investment at Britam stands at Ksh6.2 billion.


Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation.
Ericsson
#1187 Posted : Thursday, January 10, 2019 2:40:50 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,965
Location: NAIROBI
rwitre wrote:
Deep pockets taking advantage of bear to mop up and increae their holdings.

a.k.a averaging down kamikaze style Laughing out loudly

Quote:
AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.

Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.

The aggressive buying spree means that AfricInvestā€™s total investment at Britam stands at Ksh6.2 billion.


Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation.


The owners will be selling.The likes of Wairegi,Mbaru and Munga
rwitre
#1188 Posted : Thursday, January 10, 2019 4:49:46 PM
Rank: Member


Joined: 3/8/2018
Posts: 206
Location: Nairobi
Ericsson wrote:
rwitre wrote:
Deep pockets taking advantage of bear to mop up and increae their holdings.

a.k.a averaging down kamikaze style Laughing out loudly

Quote:
AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.

Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.

The aggressive buying spree means that AfricInvestā€™s total investment at Britam stands at Ksh6.2 billion.


Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation.


The owners will be selling.The likes of Wairegi,Mbaru and Munga


Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage).
Ericsson
#1189 Posted : Thursday, January 10, 2019 5:04:53 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,965
Location: NAIROBI
rwitre wrote:
Ericsson wrote:
rwitre wrote:
Deep pockets taking advantage of bear to mop up and increae their holdings.

a.k.a averaging down kamikaze style Laughing out loudly

Quote:
AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.

Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.

The aggressive buying spree means that AfricInvestā€™s total investment at Britam stands at Ksh6.2 billion.


Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation.


The owners will be selling.The likes of Wairegi,Mbaru and Munga


Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage).


Combined stake of 20%
jmbada
#1190 Posted : Friday, January 11, 2019 2:18:15 PM
Rank: Member


Joined: 1/1/2011
Posts: 287
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
rwitre wrote:
Deep pockets taking advantage of bear to mop up and increae their holdings.

a.k.a averaging down kamikaze style Laughing out loudly

Quote:
AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.

Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.

The aggressive buying spree means that AfricInvestā€™s total investment at Britam stands at Ksh6.2 billion.


Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation.


The owners will be selling.The likes of Wairegi,Mbaru and Munga


Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage).


Combined stake of 20%

Can someone help me understand? Africinvest took a bath on their initial investment, but have invested more cash...an approx 10% increase after a 20%_30% drop in their initial 2018 investment?
Ericsson
#1191 Posted : Friday, January 11, 2019 3:14:55 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,965
Location: NAIROBI
jmbada wrote:
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
rwitre wrote:
Deep pockets taking advantage of bear to mop up and increae their holdings.

a.k.a averaging down kamikaze style Laughing out loudly

Quote:
AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.

Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.

The aggressive buying spree means that AfricInvestā€™s total investment at Britam stands at Ksh6.2 billion.


Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation.


The owners will be selling.The likes of Wairegi,Mbaru and Munga


Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage).


Combined stake of 20%

Can someone help me understand? Africinvest took a bath on their initial investment, but have invested more cash...an approx 10% increase after a 20%_30% drop in their initial 2018 investment?


They have in effect lowered down their buying price and increased their stake.
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