Letshego Holdings Namibia (LHN) successfully issued a N$260 million three-year senior unsecured social note on the Namibian Stock Exchange (NSX).
The offering attracted strong investor interest, with total bids exceeding the issuance amount of N$322 million received from five bidders.
The NSX granted LHN the listing of the LHNS01 three-year senior unsecured social note in terms of its N$2 billion Domestic Medium Term Note Programme dated 4 May 2021 as guaranteed by Letshego Micro Financial Services Namibia.
“It’s a first for Letshego and there have been multiple green and social bonds issued on the NXS before. Letshego has also done various bonds, but it’s the first time they have done a sustainability bond. It a great milestone for them to reach,” NSX Chief Executive Officer Tiaan Bazuin told The Brief.
“They seem to be quite a market for sustainability bonds and the green agenda features high. If those are additional pools of capital that we can access through the exchange, then it’s great for all the insurers.”
RMB Namibia assisted with the structuring and issuance of the debt instrument.
