Bayport issues first Social Bond of USD260 million
Bayport Management Ltd (“Bayport”), a leading provider of financial solutions in emerging markets, today announced its inaugural US Dollar issue in terms of its Social Bond Framework, published this month. The group has successfully issued a USD260 million senior unsecured social bond, due in 2022, carrying a fixed coupon priced at 11.5%. The issue was heavily oversubscribed, reflecting investors’ recognition of the positive social impact of Bayport’s services on the markets in which the group operates. The bond is intended to be listed on the Nasdaq Stockholm Sustainable Bond list.
Bayport Capital Markets Executive, David Rajak, says the successful Social Bond issue affirms that Bayport’s social relevance underpins the business. “This factor, together with the group’s sustained robust financial performance, has helped drive a significantly cheaper issue than the issue in 2017, the senior bonds of which are being redeemed through the issue at hand”, he adds.
DNB Markets acted as Global Coordinator and Joint Bookrunner together with ABGSC and ABSA who acted as Joint Bookrunners. Gernandt & Danielsson Advokatbyrå has acted as lead legal advisor.
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Contact: David Rajak, Bayport Capital Markets Executive
(T)+27 11 236 7300
(E) investor@bayportfinance.com.
This information is information that Bayport Management Ltd is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 21:15 CEST on May 29th, 2019.
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