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Gondwana lists N$250 Million in Senior Unsecured Floating Rate Notes

Gondwana lists N$250 Million in Senior Unsecured Floating Rate Notes

Staff Reporter

GONDWANA Group Holdings has successfully listed N$250 million worth of new Senior Unsecured Floating Rate Notes as part of its Medium Term Note Programme.

This listing is a significant milestone in Gondwana’s strategic plan, enabling them to optimize their capital structure and reduce financing costs.

Gys Joubert, the Chief Executive Officer (CEO) of Gondwana, highlighted that the restructuring of their balance sheet will position the company for growth while meeting stakeholder expectations.

Christiaan Jacobie, Gondwana’s Public Relations Officer, said that the approved notes, which are listed on the Namibian Stock Exchange (NSX), form an integral part of the company’s ongoing efforts to enhance financial flexibility. The proceeds from the notes will be utilized to refinance Gondwana’s existing bank financing.

Jacobie further explained that the listed Notes on the NSX carry a floating interest rate. The auction for the Notes concluded on 8 May and received strong investor demand, with total bids exceeding the issuance by 1.9 times.

“We are delighted with the success of our auction and deeply grateful for the overwhelming response from investors. The confidence shown in us is truly humbling,” Joubert added.

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