Nairobi, KENYA: Barclays Africa Group Limited has successfully raised US$400 million in capital for the business in what was the Group’s first dollar-denominated bond sale in the international market in more than ten years.
In a release to media outlets, Barclays Africa Group indicated that the initiative is in line with needs to raise capital from time to time, to fund normal corporate activities and to ensure that it maintains the healthy levels of capital that regulators require banks to maintain.
Barclays Africa Group team met with more than 40 investors in London, Hong Kong and Singapore last week to present the company’s credentials and strategy in order to promote the investment opportunity to a broad array of foreign investors.
“The team’s marketing effort was paramount to the success of the transaction,” said Group Treasurer Deon Raju,
“Foreign investors have a wide range of competing for investment options from which they can select. “Choosing an optimal execution window and accelerating the timing of execution was also key to the success of the effort,” he added.
More than 140 investors across Asia, Europe, UK and the offshore US placed orders for Barclays Africa Group’s bonds.
