Deal announcement

On Monday 20 March, Bayport Management Ltd successfully announced the completion of the issuance of a SEK 1,100 million senior unsecured bond, with a SEK 2,000 million borrowing limit. The bond issue was met with very strong interest from existing and new investors and was priced in the lower end of the initial interest rate range of 11-12% due to the book being substantially oversubscribed. Net proceeds from the bond issue will primarily be used towards refinancing of Bayport’s existing bond maturing in June 2017.
 

About Bayport

Bayport Financial Services was established in 2004 and has rapidly become one of the largest non-bank providers of unsecured credit and allied products in South Africa. Through their nationwide multifaceted distribution footprint they are able to effectively service the needs of our clients no matter how remote their location. Bayport is about building lasting relationships with clients, communities and stakeholders based on trust and an understanding of their overall expectations.

Published: 3 Apr, 2017