Real People Investors Agree to Delay Ksh 1.26bn Bonds Payments Until 2028

Real People Investors Agree to Delay Ksh 1.26bn Bonds Payments

Real People, a non-deposit taking financial solutions provider for businesses in East Africa, investors said on Monday they had agreed to wait for KSh1.26 billion bonds payments till July 2028.

“At a meeting held on February 28, the noteholders by means of extraordinary resolutions resolved that the maturity date for the notes due on February 28 and August 3 be extended to February 28, 2021,” the firm said in a public notice on Monday.

However, this is subject to getting a strategic investor.

In August 2019, the lender restructured it’s debt after noteholders resolved to extend the repayment period of its KSh267.1 million notes that were to mature in 2019 to February 28, 2020.

“Subject to the issuer securing an agreement to raise equity capital with an investor whose identity shall be approved by noteholders holding 75 percent of the notes on or before February 28, 2021, the maturity dates for the notes due on February 28, 2020 and the notes due on August 3, 2020 be extended to a final date of August 3, 2028,” Real People said.