SEC approves Bayport K300 million bond listing

THE Securities and Exchange Commission (SEC) has approved Bayport Financial Services Limited’s bond listing of K300 million to diversify its funding sources.

According to a Bayport memorandum submitted to SEC, the proceeds from the issue will be used to diversify and optimise its funding sources as well as extend the maturity profile of its local currency liabilities.
Responding to a press query, SEC chief executive officer Phillip Chitalu said Bayport has not yet indicated the tenor of the notes to be issued in the first tranche of the K300 million.

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