PrimeTime raises P105m for new projects

Prime Plaza
Prime Plaza

Property investment firm, PrimeTime Property Holdings has raised P105 million from the capital markets to fund its Pilane Crossing Mall project. In an announcement to the Botswana Stock Exchange (BSE), the company stated that on June 10, 2016 it issued two senior unsecured notes out of the P500 million domestic medium term note programme.

“The BSE has granted the issuer a financial instrument listing and the notes will be listed on the BSE on the 28th June 2016,” it said.

According to PrimeTime, offers were received for P196 million and the total issuance amounted to P105 million for both the five year floating rate note and the eight year fixed rate note.

Editor's Comment
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

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