Kasapreko, a prominent beverage producer in Ghana, has successfully listed its second bond on the fixed income market of the Ghana Stock Exchange, as part of its GH¢600 million bond programme. This latest bond, valued at GH¢200 million, is a 4-Year Senior Unsecured Fixed Rate Note issued on September 17, 2024, and will mature on September 12, 2028. It features a coupon rate of 23.5%, which will be paid twice a year. The first payment is expected on March 18, 2025, followed by payments every 182 days until maturity.
Earlier this year, Kasapreko listed a bond of GH¢150 million, which is a 3-Year Senior Unsecured Fixed Rate Note issued on January 29, 2024, maturing on January 29, 2027, with a higher coupon rate of 26%. The company successfully paid its first coupons for this bond in July, instilling confidence among investors about its ability to meet future obligations.
The High Street Journal sources say, Kasapreko has established a sinking fund with a bank to ensure it consistently meets its coupon payments. The bond issuance aligns with Kasapreko’s strategic expansion goals, which include the recent opening of a new factory and the launch of new product lines.
The funds raised from these bonds will be used for capital expenditures, working capital needs, and possibly refinancing existing debt, all aimed at enhancing the company’s market presence and exploring new business opportunities. This bond issuance marks the largest single capital raise by a local manufacturing firm in Ghana, highlighting Kasapreko’s commitment to growth and financial stability. The company has so far listed a total of GH¢350 million worth of bond.
