Skip to main content

News

Back to news

ABG Sundal Collier acted as Joint Bookrunner for Bayport Management Ltd in connection with the USD 260 million Senior Unsecured Social Bond Issue

ABG Sundal Collier acted as Joint Bookrunner for Bayport Management Ltd in connection with the USD 260 million Senior Unsecured Social Bond Issue

Bayport Management Ltd (“Bayport”) announced Wednesday 19 May the successful completion of its USD 260 million Senior Unsecured Social Bond Issue (the “Bond Issue”) with maturity in June 2022. The bonds will have a coupon of 11.5 per cent per annum. The bonds are issued under Bayport’s newly established Social Bond Framework with a second opinion from Sustainalytics. The bonds will be applied for listing on Nasdaq Stockholm Sustainable Bond List. 

This transaction marks Bayport’s inaugural USD denominated issue and was met with strong investor interest across the Nordics, UK, Asia, South Africa, Continental Europe and US resulting in orderbooks in excess of USD 300 million. 

Bayport is a provider of credit solutions augmented with transactional banking and insurance products primarily to individuals in emerging and frontier markets. Loans deducted at source are the core of Bayport’s offering and are unsecured loans where payments are deducted at source (by the employer) before the borrower receives the net salary.