90% of non-sovereign bondholders participate in tender offer – ESLA PLC

Managers of ESLA PLC have stated that approximately 90 percent of non-sovereign bondholders have successfully submitted their bonds for tender.

This decision follows the announcement on September 16, 2024, to repurchase all outstanding bonds under ESLA PLC’s Tranche E2, E3, E4, and E5 held by non-sovereign bondholders.

Furthermore, ESLA PLC extended the buyback offer deadline to September 30, 2024, with a revised closing deadline set for October 14, 2024.

The Ghana Stock Exchange issued a notice urging remaining non-sovereign bondholders to submit their bonds promptly to avoid any delays.

ESLA PLC intends to use all available resources to settle the remaining non-sovereign bondholders promptly once the buyback offer concludes. The tendered bonds will be redeemed at face value to ensure that the funds used are held in the lockbox account.

The settlement date is scheduled for October 30, 2024.

ESLA PLC is a Special Purpose Vehicle (SPV) established as a public limited liability company to issue long-term bonds aimed at resolving energy sector debts owed to banks and trade creditors.

The securities issued are backed by a portion of the Energy Sector Levy Act (ESLA) receivables assigned to the company for the payment of coupons and principal repayments associated with the securities issued.

MA

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