African Business

Kasapreko PLC to float GH¢600m on Ghana Fixed Income Market

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Kasapreko, a leading producer in the alcoholic and non-alcoholic beverage industry, will list a GH¢600 million bond on the Ghana Fixed Income Market of the Ghana Stock Exchange on Monday, February 19.

The landmark move which would serve as the single largest capital raise on the fixed-income market, underscores the company’s commitment to growth and operational excellence within Ghana’s vibrant economic landscape.

A release issued in Accra yesterday said; “The company will list Tranche 01 of its GH¢600 million Bond Programme.

Tranche 01 is a GH¢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 per cent subscribed on the capital market and serves as the single largest capital raise on Ghana Fixed Income Market.”

The release said the coupon rate is 26 per cent while the coupon payment cycle will be bi-annual.

“Coupon payment dates have been fixed for July 26 and January 29 respectively,” the release added.
Speaking on the move ahead of the listing, the Managing Director, Kasapreko PLC, Richard Adjei, expressed optimism, saying: “As the first manufacturing company to raise a corporate bond in Ghana, we are thrilled to embark on this momentous journey of listing our GH¢600 million bond and grateful for the confidence the market has shown in Kasapreko PLC.

This strategic move underscores our unwavering commitment to sustainable growth and signifies our confidence in Ghana’s vibrant economic ecosystem. We are confident that this bond issuance will accelerate our growth trajectory, further cementing our position as a beacon of excellence within the beverage industry.”

Job creation

The listing of the GH¢600 million bond on the Ghana Fixed Income Market, the release added, serves as a testament to the company’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,” it added.

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