Monday, 15 April

Kasapreko PLC floats GH¢600 million note on Ghana Fixed Income Market

Business
Officials of Kasapreko at GSE listing

Kasapreko PLC, a trailblazer in the alcoholic and non-alcoholic beverage industry, proudly announces its forthcoming listing of a GHS600 million bond on the Ghana Fixed Income Market at the Ghana Stock Exchange. This landmark move underscores KCP's commitment to growth and operational excellence within Ghana's vibrant economic landscape.

The company has listed Tranche 01 of its GHS 600 million Bond Programme.

Tranche 01 is a GHS 150 million three-year senior unsecured fixed rate note with an issue date of January 29, 2024, and a maturity date of January 29, 2027.

Tranche 01 has been 100% subscribed on the capital market and serves as the single largest capital raise in Ghana Fixed Income Market.

 The coupon rate is 26% while the coupon payment cycle will be bi-annual. Coupon payment dates have been fixed for July 26 and January 29 respectively.

Speaking on the listing, Mr. Richard Adjei, Managing Director at Kasapreko PLC, expressed profound optimism, stating, "As the first manufacturing company to raise a corporate bond in Ghana, we are thrilled to embark on this momentous journey of listing our GHS600 million bond and grateful for the confidence the market has shown in Kasapreko PLC.

This strategic move not only underscores our unwavering commitment to sustainable growth but also signifies our confidence in Ghana's vibrant economic ecosystem.

We are confident that this bond issuance will enable us to accelerate our growth trajectory, further cementing our position as a beacon of excellence within the beverage industry."

The listing of the GHS600 million bond on the Ghana Fixed Income

 

The market serves as a testament to KCP's dedication to fostering economic development, job creation, and value addition within Ghana.

As the company continues to chart new territories and push the boundaries of innovation, Kasapreko PLC remains steadfast in its mission to deliver unparalleled quality and excellence to consumers worldwide.

Source: Classfmonline.com