Kasapreko GHS 600m Note Listing: GHS 150m Tranche 1 & 2 listing sees 100% subscription

The Tranche 1 and Tranche 2 listing of the GHS 600m note listing on the Fixed Income Market of the Ghana Stock Exchange (GSE) by indigenous company, Kasapreko Plc, has witnessed 100% subscription by investors.

The 100% subscription by investors of Tranche 1 & 2 worth GHS 150m reflects high investor appetite for the company’s debt issuance given the high coupon rate of 26%, similar to interest rate on Treasury Bills.

Speaking at the listing ceremony, Managing Director of Kasapreko Plc, Richard Adjei, expressed profound optimism stating that, “as the first manufacturing company to raise a corporate note in Ghana, we are thrilled to embark on this momentous journey of listing our GHS 600m note and grateful for the confidence the market has shown in Kasapreko.”

“This strategic move not only underscores our unwavering commitment to sustainable growth but also signifies our confidence in Ghana’s vibrant economic ecosystem. We are confident that this bond issuance will enable ua to accelerate our growth trajectory, further cementing our position as a beacon of excellence within the beverage industry,” he added.

Managing Director of the GSE, Abena Amoah, also speaking at the listing ceremony, averred the GHS 600m note listing by Kasapreko is very important to the Ghanaian capital market.

“I have waited for a moment such as this, the listing by Kasapreko is very important to the Ghanaian capital market.

“This listing is so heartwarming for us because, at the GSE, we aim to grow businesses to become relevant to the economy.

“Most businesses in Ghana have reached the stage to list on GSE to raise capital and I encourage these businesses to come and use the GSE market to grow their businesses,” she remarked.

The GHS 600m issuance by Kasapreko is a three-year senior unsecured fixed-rate note.

The first tranche (GHS 103.7m) and second tranche (GHS 47.4m) listed by Kasapreko are valued at GHS 150m with a coupon rate of 26% to be paid bi-annually.

The debt security issued on January 29, 2024, matures on January 29, 2027.

The listing of the GHS 600m Note on the Ghana Fixed Income Market serves as a testament of Kasapreko’s dedication to fostering economic development, job creation, and value addition within Ghana.

As the company continues to chart new territories and push the boundaries of innovation, Kasapreko remains steadfast in its mission to deliver unparalleled quality and excellence to consumers.

Norvan Reports