KenolKobil to Raise 1.7 Billion Shillings in Private Placement
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KenolKobil Ltd., a Kenyan fuel retailer with operations in nine other African countries, began a private placement to raise 1.7 billion shillings ($19.6 million) to fund its day-to-day business.
The placement is a continuation of an existing commercial-paper program, Andre DeSimone, chief executive officer at Kestrel Capital East Africa Ltd., the arranger and placing agent for the transaction, said in an e-mailed response to questions today from the capital, Nairobi.