BAYPORT Financial Services Zambia has successfully raised K171 million in floating rate notes from the domestic capital markets.
Finance director Prisca Shimwambwa, said in a statement that the micro-lender has appointed
Ms Shimwambwa said the strength of investor appetite saw the value of the transaction increase by K21million, from the initial K150million offered as new investors and Bayport's existing lenders came together under a single security structure.
She said the landmark transaction was the single largest bond issue in
"This transaction will allow us to diversify our funding sources and complement our imminent deposit taking phase," she said.
The transaction received anchor support from the
As a further endorsement, ALCBF, the local currency investment fund of German-government owned development finance institution KfW, committed to 13 per cent of the transaction pursuant to the road show.
"We are delighted to have successfully taken Bayport to the capital markets in
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