Bayport gives conditional notice of early redemption for social bonds

Chicago, May 6 – Bayport Management Ltd. formally issued a conditional notice of redemption for its $260 million outstanding senior callable fixed-rate social bonds issued in 2019 and due in 2022, according to a press release.

The original issue size was $400 million.

The company plans to redeem the bonds on May 31, with a record date for the redemption on May 27.

The redemption is conditioned on the successful settlement of a dollar-denominated new offering of bonds by the record date.

The company expects to settle the new notes on May 20.

The existing notes will be redeemed at par plus interest.

The bonds will be delisted from Nasdaq Stockholm Sustainable Bond list following the redemption.

Based in Mauritius, Bayport provides financial services in Botswana, Colombia, Ghana, Mexico, Mozambique, South Africa, Tanzania, Uganda and Zambia.

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