E.S.L.A. PLC Targets GHS 1.04 Billion in Bond Buyback, Settlement Set for October
E.S.L.A. PLC has announced plans to repurchase outstanding bonds from Tranches E2, E3, E4, and E5 held by non-sovereign bondholders, according to a statement issued to the Ghana Stock Exchange.
The buyback will be executed at par value, utilizing funds held in the company’s lockbox account, with a targeted settlement date of Wednesday, October 30, 2024.
The offer, which seeks to retire GHS 1.044 billion in debt, will open on Monday, September 16, 2024, and close on Monday, September 30, 2024.
Per the statement, non-sovereign bondholders wishing to participate are required to submit bids via email during the offer window. Bids should include relevant identification details, such as bondholder name, CSD ID, custodian bank, security ID, and the face value or settlement amount.
Submissions are to be directed to designated emails of the Joint Lead Managers and Co-Managers, including BBDSalesGhana@sc.com, capitalmarkets@myfidelitybank.net, AdvisoryGroup@gcb.com.gh, advisory@templeinvest.com, and gh-fm-eslaplc@kpmg.com.
Upon the close of the offer, authorized representatives of the Joint Lead Managers will engage successful bondholders to facilitate the buyback.
The buyback operation by E.S.L.A. PLC underscores ongoing efforts to optimize the company’s debt structure by reducing its outstanding liabilities.
