Kasapreko PLC to float GH¢600m on Ghana Fixed Income Market
KASAPREKO PLC, a leading producer in the alcoholic and non-alcoholic beverage industry, will list a GH¢600 million bond on the Ghana Fixed Income Market of the Ghana Stock Exchange on Monday, February 19.
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The landmark move which would serve as the single largest capital raise on the fixed income market, underscores the company’s commitment to growth and operational excellence within Ghana’s vibrant economic landscape.
A release issued in Accra yesterday said; “The company will list Tranche 01 of its GH¢600 million Bond Programme.
Tranche 01 is a GH¢150 million three-year senior unsecured fixed rate note with an issue date of January 29, 2024, and a maturity date of January 29, 2027. Tranche 01 has been 100 per cent subscribed on the capital market and serves as the single largest capital raise on Ghana Fixed Income Market.”
The release said the coupon rate is 26 per cent while the coupon payment cycle will be bi-annual.
“Coupon payment dates have been fixed for July 26 and January 29 respectively,” the release added.
Speaking on the move ahead of the listing, the Managing Director, Kasapreko PLC, Richard Adjei, expressed optimism, saying: “As the first manufacturing company to raise a corporate bond in Ghana, we are thrilled to embark on this momentous journey of listing our GH¢600 million bond and grateful for the confidence the market has shown in Kasapreko PLC.
This strategic move not only underscores our unwavering commitment to sustainable growth but also signifies our confidence in Ghana’s vibrant economic ecosystem. We are confident that this bond issuance will enable us to accelerate our growth trajectory, further cementing our position as a beacon of excellence within the beverage industry.”
Job creation
The listing of the GH¢600 million bond on the Ghana Fixed Income Market, the release added, serves as a testament to the company’s dedication to fostering economic development, job creation and value addition within Ghana.
“As the company continues to chart new territories and push the boundaries of innovation, Kasapreko PLC remains steadfast in its mission to deliver unparalleled quality and excellence to consumers worldwide,” it added.
Brief
Founded in 1989, Kasapreko PLC is a leading alcoholic and non-alcoholic beverage producer renowned for its commitment to quality and innovation. As a member of the esteemed Ghana Club 100, the company stands as a beacon of Ghanaian corporate excellence, representing the rich heritage and culture of the nation. With a diverse portfolio of world-class products, the company continues to redefine the beverage industry landscape, both locally and internationally.
Kasapreko has products sold worldwide under a variety of brands in the bitters, whisky, gin, liqueur, brandy and wine drink categories. Its brands are celebrated in Africa and across the world.
Kasapreko PLC is a Ghanaian ISO 22000:2005 certified indigenous manufacturer and producer of alcoholic and non-alcoholic drinks.
Its flagship brand, Alomo Bitters, is a herbal based alcoholic product. Kasapreko was 6th according to the 2012 Ghana Club 100 rankings. In 2017 KCL was awarded top Ghanaian company in the competitive beverage sector by the Association of Ghana Industries.
