Bayport Management Ltd ("Bayport" or "the Company") has successfully issued senior unsecured bonds ("the 2015 Bond") to the value of SEK 1,1 billion. Due to high demand from both Swedish and international investors, Bayport increased its initial indicated minimum volume of SEK 700 million to the final issue volume of SEK 1.1 billion (USD 133 million). This will be Bayport's fifth SEK denominated bond listed on the Nasdaq Stockholm.
The 2015 Bond will accrue interest at a rate of 12% per annum and matures in October 2018. It is part of a SEK 1,500-million (USD 181 million) programme allowing Bayport to issue further bonds at a later stage.
Grant Kurland, joint CEO of Bayport says that when Bayport issued its debut bond five years ago it was a business operating in four African countries, out of 200 branches, and had a total of around 200 000 loans on its books. "Today we operate in nine countries on two continents. We service nearly three times as many customers and have more than double the number of branches. The support shown by the Swedish and international capital markets is exciting, especially as we continue to grow the company."
With over 100 investors subscribing for the 2015 Bond, about 55% of the bonds were bought by investors based outside of Sweden. This further emphasises Bayports' position as an active participant in the global capital markets.
ABG Sundal Collier and DNB Markets have acted as financial advisors and joint bookrunners for Bayport in connection with this bond issue. Gernandt & Danielsson Advokatbyrå has acted as legal advisor.
Bayport is a leading provider of financial solutions in its markets of operation. The company was founded in 2001 and operates under the brand name of Bayport Financial Services. Bayport's operations are domiciled in Botswana, Colombia, Ghana, Mexico, Mozambique, South Africa, Tanzania, Uganda and Zambia, servicing approximately 523 000 customers through 460 branches and 7 200 employees.
Contact David Rajak +27 11 236 7300 / investor@bayportfinance.com should you have any queries.
Bayport is publishing this information pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for public disclosure on 23 October 2015, at 09:00.
HUG#1961065
