10% Non-bondholders of ESLA PLC yet to tender their bonds

Approximately 90% of non-sovereign bondholders have, to date, successfully tendered their bonds with E.S.L.A PLC. 

It followed an announcement by E.S.L.A. PLC on September 16, 2024, offering to buy back all the outstanding bonds under E.SL.A PLC Tranche E2, E3, E4, and E5 held by non-sovereign bondholders. 

E.S.L.A. PLC subsequently announced on September 30, the extension of the buyback offer period, with a new offer close date of October 14, 2024.

A notice posted by the Ghana Stock Exchange (GSE) said: “We hereby encourage the remaining non-sovereign bondholders to tender their bonds promptly, as E.S.L.A. PLC will immediately after the closure of the buyback offer, exercise all options available to settle all remaining non-sovereign bondholders.

“The bonds would be bought back at par using proceeds held in the lockbox account,” it said. 
The notice said the settlement was scheduled for Wednesday, October 30, 2024.

Submission

It asked non-sovereign bondholders to submit their bids for the buyback by submitting their tender form through the mail by completing and executing the tender form.

That, it said, must include “bondholder name; CSD ID; Custodian bank; Security ID; Face Value/Settlement amount; and Verification by Depository Participant (page 2 of the tender form).

It said authorised representatives of the Joint Lead Managers and Joint Co-Managers would contact successful bondholders accordingly.