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| Baffour Agyarko Kwakye, Manager, Debt Capital Markets, Investment Banking, Stanbic Bank Ghana LTD. |
Stanbic Bank Ghana, acting as Joint Lead Arranger and Co-Sponsoring Broker is pleased to have advised on, and facilitated the successful closure and listing of a GHS100 million Senior Unsecured dual offering of bonds by Letshego Ghana Savings and Loans PLC (“Letshego Ghana” or the “Issuer”), on the Ghana Fixed Income Market on 21st October 2024.
This dual offer represents the third and fourth series under the expanded GHS500 million Medium-Term Note Programme of the Issuer.
The issuance is set to further support Letshego Ghana’s strategic objective of deepening its reach in providing accessible instant loan solutions across Ghana. It also highlights the growing significance of the domestic debt capital markets as an alternative funding source for corporate issuers. The bonds were met with strong investor participation and achieved an oversubscription of 1.31x to price at 22.50% for the 3-year fixed rate notes, while the 5-year floating rate notes were priced at 182-day T-bill rate plus a margin of 100 basis points.
Commenting on the bond issuance, Baffour Agyarko Kwakye, Head of Debt Capital Markets at Stanbic Ghana noted, “We are delighted to have facilitated yet another successful funding round for Letshego Ghana. The strong demand for the notes reaffirms the solid investor confidence in the Issuer’s business performance and strategic vision.”
The proceeds from the bond issuance will be used towards augmenting working capital requirements and undertaking expansion of Letshego Ghana’s loan portfolio.
Black Star Brokerage Limited also acted as Joint Lead Arranger and Co-Sponsoring Broker on the transaction.
About Stanbic Bank Ltd
Stanbic Bank Ghana (“Stanbic”) is a leading Tier 1 bank in Ghana and a member of the Standard Bank Group, Africa’s largest bank with presence in 20 countries across Africa and major global financial hubs. Stanbic has been operating since 1999 and currently has a network of 40 branches across Ghana, offering its clients the full suite of banking services. Stanbic has a leading investment banking franchise in Ghana with capabilities in corporate financing, advisory and capital markets.
Stanbic Ghana has unmatched capabilities within the Corporate and Investment Banking segment in Ghana, providing the comprehensive suite of services, including:
- Investment Banking: corporate financing solutions, energy and infrastructure financing, real estate financing, debt and equity capital markets, mergers and acquisitions advisory
- Transaction Banking: cash and liquidity management, channels, trade and working capital, custody services – domestic and foreign payments and collections, letters of credit, documentary collections, invoice financing, digital solutions, etc
- Global Markets and Treasury: trading, corporate dealing and sales – money markets, foreign exchange, interest rates, commodity derivatives, structured products, equities, digital solutions.
Stanbic Bank’s comprehensive suite of services are bolstered by a world class Client Coverage team leveraging expertise and sector knowledge to assist our clients operating in the public sector, financial services, telecommunications, media and technology, mining and metals, oil & gas, consumer, agriculture, energy and infrastructure, real estate, and diversified industries.
Stanbic Ghana’s proven track record of excellence in Investment Banking is evidenced by its numerous awards and accolades from globally recognised award houses. Most recent of these are:
- Global Finance Awards – Best Investment Bank in Ghana (2023, 2021, 2018)
- EMEA Finance African Banking Awards – Best Investment Bank in Ghana (2023, 2022, 2021), and Best Bond House in Ghana (2023, 2021, 2019, 2018)
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