BCL plans to borrow P2.6bn from markets

Addressing the media yesterday, acting divisional manager (finance and administration), Tobokani Mosetlha said they have engaged Barclays Africa group to facilitate the bond issuance.

“The funds would be used to settle a $100 million facility we recently acquired from Barclays as well as finalise the acquisition of a 50 % stake in Nkomati Mine in South Africa,” he said. “The balance would go towards working capital requirements. Due to the size of the bond, the plan is to open it to both foreign and local investors.”