Nairobi, Dec. 9 -- Telecoms operator Safaricom Plc has raised Sh20 billion from the first tranche of its corporate bond after a 177 percent oversubscription of the offer which closed on Friday.

Total bids received for the offer were Sh41.6 billion, surpassing the target of Sh15 billion which handed the telecoms operator the window to take an additional Sh5 billion in a green shoe option.

Investors participating in the offer have locked in a fixed interest rate of 10.4 percent per annum for the five-year paper expected to mature in December 2030.

The notes are expected to list on the Nairobi Securities Exchange (NSE) on December 16, 2025.

Read:Safaricom keeps 80pc dividend policy amid debt surge

"Following strong investor demand, Safa...