Stanbic raises P150m through bond placement

Tapping the market: Stanbic recently closed its private placement for P150 million with local investors
Tapping the market: Stanbic recently closed its private placement for P150 million with local investors

Stanbic Bank Botswana recently raised P150 million through the private placement of a five-year bond, the second largest debt note the bank has sought under its P2 billion issuance programme.

The latest bond, which carries a 9.15 percent fixed rate and matures in March 2028, was listed on the Botswana Stock Exchange (BSE) last week. With the placement, Stanbic now has nine outstanding bonds issued under its P2 billion programme, which dates back to May 2008.

In a market circular issued by the BSE, Stanbic said the latest bond’s proceeds would be for “general corporate use,” a broad description which analysts said could touch on treasury activities.

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