Businesses & Financial News

Mortgage lender eyes October infrastructure bond issue

Kenya Mortgage Refinance Company Plc, is a financial services company in Kenya, that specializes in lending to other financial institutions in the country, for onward lending in form of mortgages.

Mortgage lender, Mortgage Refinance Company is expected to issue an infrastructure bond sometime in October in a bid to raise additional financing for its affordable housing finance objectives.

Subsequently, the Company is also on course with plans to issue Green Bonds to finance climate friendly housing projects.

The firm was set up in 2020 with the aim to support the growth of residential housing market in Kenya by providing long-term funding to the mortgage lenders to increase affordability of mortgage loans to homeowners.

As of December 2020, the Kenya Mortgage Refinance Company had refinanced 1,400 affordable housing loans worth Sh2.75 billion.

 

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