Low uptake of GetBucks P200m bond :: Mmegi Online

GetBucks Botswana’s effort to raise up to P200 million through a medium-term note (MTN) programme seems to have not aroused confidence from investors in the market. This week, the up-and-coming micro-finance company said its offers for the medium-term note programme that closed on Friday last week, amounted to P71.8 million.

The medium-term note, which opened on December 23, 2016, was intended to raise between P100 million and P200 million as a first tranche of the note.

In a statement issued this week, the company, which embraces technology as a means to provide financial products and services to customers, stated that the listing of the note is subject to GetBucks submitting all final documentation to the Botswana Stock Exchange (BSE). “Listing of the notes and commencement of trading will be on 17 February 2017,” the company said. A medium term note, according to Investopedia, is a note that usually matures in five to 10 years.

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