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Kasapreko Makes Coupon Payment For GHS 103.7 Million Tranche Debt

7 months ago
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Kasapreko Makes Coupon Payment For GHS 103.7 Million Tranche Debt

Kasapreko Plc, a wholly Ghanaian-owned beverage manufacturing company, has made the second coupon payment for its GHS 103.7 million tranche 1 debt under its GHS 600 million note programme.

In a statement to the Ghana Stock Exchange (GSE), Kasapreko disclosed that the coupon payments due on January 29, 2025, have been deposited into the company’s Debt Service Reserve Account (DSRA).

“Kasapreko announces to holders of KCP1-3Y27 (Series 1) that as of January 13, 2025, the Debt Service Reserve Account (DSRA) has been fully funded with the coupon amount due on January 29, 2025,” the company said in the statement.

It further noted, “The funds paid into the DSRA as of December 12, 2024, confirm that Kasapreko has fulfilled its financial obligation to make the coupon payment to Series 1 note holders by the payment date.”

The GHS 600 million bond programme is a three-year senior unsecured fixed-rate note. The first tranche of the bond, valued at GHS 103.7 million, carries a coupon rate of 26%.

Kasapreko listed this tranche on the Ghana Fixed Income Market of the GSE.

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The debt security, issued on January 29, 2024, is set to mature on January 29, 2027.

Kasapreko’s successful coupon payment signals its commitment to meeting financial obligations and bolstering investor confidence in its bond programme.

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