Kenya Airways secured bridge financing to the tune of KShs 20 billion (USD 200 million). The first tranche of KShs 10 billion (USD 100 million) was received in September 2015 and the second tranche was received in July 2016. This borrowing is supported through an on-lending agreement from the Government of Kenya as a key shareholder.
African Export Import Bank (“Afrexim”) was appointed as financial advisor and offered to provide the Bridge Loan. The Bridge Loan was approved and KQ drew down $100M. The balance of $100M has been received with the support of the Government of Kenya.
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