Barclays seeks P2bn on bond market
Friday, September 05, 2014
The bond comes ahead of the bank’s release of the half-year financial results to June 2014. The results are expected to be more than ten percent lower than the corresponding period last year in which Barclays profit after tax fell 18 percent to P192 million.
According to Barclays, the bank will under the P2 billion Medium Term Note (MTN) programme not issue the whole amount at once but will from time to time issue a series of notes in tranches. The P2 billion note will replace Barclay’s current listed P100 million which is set to mature next month. According to Barclays, the final offer price, aggregate principal amount, interest, if any, of notes to be issued under the programme will be determined by the bank, and the arranger of the programme in accordance with prevailing market conditions. Finer details of the bond including issue date and tenure are yet to be provided. “The maximum aggregate nominal amount of all notes issued under this programme will not exceed P2 billion. The issuer may however, increase the amount of P2 billion with the consent of the Botswana Stock Exchange.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...