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Prime Bank has successfully raised USD10 million issued through a private placement of 5.5 year USD denominated notes which is a 100percent subscription rate.
Prime Bank Managing Director, Mr. Bharat Jani says, “Prime Bank plans to use the funds to support its future expansion plans”
Burbidge Capital acted as the arranger & placing agent and CoulsonHarney as the legal advisors.
Founded in 1992, headquartered in Nairobi, Kenya, Prime Bank is a leading financial institution based in Kenya and regulated by the Central Bank of Kenya. Prime Bank is focused on providing financial services to a diverse clientele that includes personal and business consumers as well as corporate clients, specializing in loans to small businesses and Commercial and Industrial (C&I) loans.
The lender currently has 18 branches spread across Kenya and has become a leading provider of financial services that enable customers to grow, maintain strength, and reach unprecedented levels of success.