Letshego Ghana Savings and Loans secures GHS 100 Million through debt capital market
Letshego Ghana Savings and Loans Plc has successfully listed its GHS100m Senior Unsecured Dual Bond Offer on the Ghana Fixed Income Market, marking its second issuance this year under its expanded GHS500 million Medium-Term Note Programme.
This demonstrates the company’s commitment to diversifying its funding base and providing alternative investment opportunities to the local debt capital market.
With this latest issuance, Letshego has raised a total of GHS 200 million in 2024, having earlier secured GHS 100 million in March.
The issuance saw significant interest, with total bids peaking at GHS131 million reflecting an oversubscription rate of 1.31 times.
The transaction was priced at 22.50% for the 3-year fixed rate note, while the 4-year floating rate note was priced at 182-day T-bill rate plus a margin of 100 basis points.
Overall, the success of this issuance reaffirms Letshego Ghana’s standing as a trusted corporate bond issuer in Ghana’s active capital market.
Commenting on the bond issuance, the Country Chief Executive Officer of Letshego, Nii Amankra Tetteh, noted, “We would like to express our gratitude to our investors for the continuous confidence and trust posed in the Letshego team. With this funds injection, we can continue to work on our strategy of providing increased access to inclusive financial solutions across the country. We appreciate the ongoing support of our investors, who remain valuable partners as we fulfill our brand purpose to improve more lives in Ghana.”
Stanbic Bank Ghana LTD and Black Star Brokerage Limited were joint lead arrangers and co-sponsoring brokers to the issue.
