Nairobi, May 26 -- The Kenya Mortgage Refinance Company (KMRC) is targeting the third tranche of its medium-term corporate bond programme in 2028 after successfully raising Sh3 billion from the second issuance earlier this month.

The mortgage refinancing firm, which listed the second tranche bond on the Nairobi Securities Exchange (NSE) on Monday, is betting that interest rates will remain subdued, creating room for another issuance that could close out its medium-term notes (MTN) programme.

KMRC's second tranche bond attracted Sh9.4 billion in bids against a target of Sh3 billion, representing an oversubscription rate of 312.8 percent. The issue was open between April 28 and May 12.

Read: KMRC green bond attracts 312pc oversubscriptio...