|06-25-2012 09:08 PM CET - Business, Economy, Finances, Banking & Insurance||
ADC successfully places EUR 40m bonds with warrants attached
Press release from: ADC African Development Corporation GmbH & Co. KGaA
ADC African Development Corporation GmbH & Co. KGaA ('ADC'), ISIN DE000A1E8NW9, a fast growing pan-African banking group focused on the frontier markets of sub-Saharan Africa is pleased to announce that it has successfully placed its EUR 40 million bonds with warrants attached both with existing shareholders and new investors.
The bonds with warrants attached will be listed on the Frankfurt Stock Exchange with the ISIN DE000A1PGNY4 once all approvals from the regulator have been given. It is planned to list the cum-bonds with warrants attached in the third quarter of this fiscal year.
The proceeds of the bonds will be used to finance the USD 50 million rights issue of ABC Holdings Limited that is operating under the brand name 'BancABC' in five South-Eastern African countries.
Olaf Meier comments on the placement: 'We are very proud that despite difficult macro-economic times both our existing shareholders as well as new investors are supporting us in our growth strategy to become one of the leading pan-African banking groups. This shows both the trust in our strategy and performance and also the positive view on Africa that more and more institutional investors have. We are convinced that we are offering a good platform to institutional investors and that we will satisfy their expectations in ADC.'
ADC African Development Corporation (ISIN: DE000A1E8NW9; Bloomberg: AZC.GR, www.african-development.com), a member of the Angermayer, Brumm & Lange Group (www.abl-group.de), was established in September 2007 and aims to become one of the leading banking groups in sub-Saharan Africa, active in corporate and retail banking and proprietary investments. The company's success is primarily due to its local management team, which follows international best practice principles to further develop its operational companies and implements conventional international processes to increase their profitability. As the second international emerging market investor in the world, ADC was integrated into the insurance solution offered by the Multilateral Investment Guarantee Agency ('MIGA'), a member of the World Bank Group, primarily due to its strong operational approach and adherence to the highest ethical standards. This insurance offers protection against a variety of political risks, in particular the risk of radical political change.
ADC African Development Corporation GmbH & Co. KGaA
60322 Frankfurt am Main
T +49 69 719 12 80 119
This release was published on openPR.
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