IZWE raises GHS 25m from first tranche of GHS 150m bond listing
IZWE, a leading non-bank financial institution in Ghana, has announced the listing of Tranche A18 of its GHS 150 million bond programme on the Ghana Fixed Income Market of the Ghana Stock Exchange. This 3-year senior unsecured fixed rate note has an issue date of April 12, 2023, and a maturity date of April 8, 2026. The coupon for this tranche is set at an attractive rate of 22.50%.
The allotted amount for Tranche A18 of IZWE’s bond programme is GHS 25,000,000. This latest bond offering from IZWE comes as part of the company’s ongoing efforts to diversify its funding sources and strengthen its balance sheet.
The bond programme has been well received by investors, with the previous tranche oversubscribed. The high coupon rate offered on this latest tranche is expected to generate significant investor interest and demand.
IZWE has a strong track record of delivering innovative and tailored financial solutions to its clients. The company has a robust risk management framework and is committed to maintaining the highest standards of corporate governance.
The listing of Tranche A18 on the Ghana Fixed Income Market will provide investors with an opportunity to invest in a high-quality, fixed-income security backed by the solid reputation of IZWE. It is expected to be a popular investment option for both institutional and retail investors looking for reliable returns.
The success of this latest bond offering will not only provide IZWE with the necessary capital to support its growth and expansion plans but also contribute to the development of Ghana’s capital markets. The increased activity and liquidity in the fixed income market will help to deepen the market and create more opportunities for issuers and investors alike.
Overall, the listing of Tranche A18 of IZWE’s GHS 150 million bond programme is a positive development for the company and the Ghanaian capital markets. The high coupon rate, coupled with IZWE’s strong reputation and track record, is expected to drive strong demand for the bond and provide investors with an attractive investment opportunity
