Barclays raises P500m from bond market

Barclays head office
Barclays head office

Barclays Bank Botswana has raised P250 million from a P2 billion Medium Term Note (MTN) floated last year, which took its total issued notes to P500million.

In a bid to meet corporate funding requirements, Barclays listed the P2 billion bond programme in July last year before liquidity tightened in the market.

In an interview with the BusinessWeek, Barclays managing director, Reinette van der Merwe said the bank issued some of the notes at the opportune moment before temporarily freezing the process, when liquidity situation tightened and the market started paying relatively higher deposits rates for short term money.  “We issued notes amounting to about P250m to take our total to half a billion Pula last year from our Medium Term Note. We chose to halt the process to take on more issuances as deposits rates rose higher due to the transitory tight liquidity in the market,” she said.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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