Sessional Paper No. 04 of 1993 on Kenya Government Guarantee of a Rehabilitation Loan to the East African Portland Cement Company Ltd by Tomen Corporation of Japan.

Abstract

In accordance with the provision of the Guarantee (Loans) Act Cap. 461 of the Laws of Kenya the following information is laid before the National Assembly relating to a guarantee by the Government in respect of the additional Loan to E.A. Portland Cement Company Ltd. Tomen Corporation of Japan is prepared to lend E.A. Portland Cement Ltd. a Loan of Yen 1,100,000,000 equivalent to KSh 703,037,500 at the official prevailing exchange rate on terms and conditions as set in the Loan Agreement dated 27th October, 1993. The Loan will carry a grace period of 3 years followed by repayment of 7 years, and a floating rate of interest equal to LIBOR Plus 2% per annum...