By Susanna Moon
Chicago, March 20 – Bayport Management Ltd. said it sold SEK 1.1 billion of 11% 2.5-year bonds.
ABG Sundal Collier and DNB Markets are the joint bookrunners.
Proceeds will be used to refinance Bayport’s bonds maturing in June 2017 and for general corporate purposes.
“The bond issue was met with very strong interest from existing and new investors and was priced in the lower end of the initial interest rate range of 11% to 12% due to the book being substantially oversubscribed,” according to a company announcement.
The bond was issued within a framework of SEK 2 billion with another SEK 900 million remaining.
The deal was announced on March 1.
The issuer provides financial services in Botswana, Colombia, Ghana, Mexico, Mozambique, South Africa, Tanzania, Uganda and Zambia. Bayport is based in Ebene, Mauritius.
| Issuer: | Bayport Management Ltd.
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| Issue: | Senior bonds
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| Amount: | SEK 1.1 billion
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| Maturity: | 2.5 years
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| Coupon: | 11%
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| Managers: | ABG Sundal Collier and DNB Markets
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| Pricing date: | March 20
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| Settlement: | March 24
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| Price talk: | 11% to 12%
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