Savannah Cement of Kenya Plans $350m Bond in London

Cement maker to use proceeds it plans to raise from sale on London Stock Exchange to build clinker production plant, Standard newspaper reports, citing Savannah Cement CEO Samson Shivina.

• Plant with planned capacity of 2.7 million tons per year may be completed by mid-2024
• Some of the cash will also be used to build grinding plant with capacity of 700,000 tons per annum

Source: Bloomberg