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Africa International Capital Ltd. Advises of Subsidiary Bond Programme
Hamilton, Bermuda: 4 December 2015 – Africa International Capital (Angola Business Unit) has constituted a corporate bond through ADV Holding Ltd., a subsidiary in the Angola account corporate structure, on the closing date of 3 December 2015. Given specific investor interest, the company has chosen the bond market to raise funding in advance of an intended equity offering. This bond is a private placement with a technical listing to follow on the Irish Stock Exchange (ISE). The bond has an indicative amount up to USD $30 million and a coupon of 10 per cent. It is callable in December 2016 at 105 per cent, December 2017 at 103 per cent and December 2018 at 101 per cent. Final maturity is December 2019.
ADV Holding Ltd. was chosen as the issuing entity as it has sufficient historic financial information to meet ISE listing requirements. Promissory notes, which have been in place between the vendor of certain real estate assets and the Angola Business Unit, have been cancelled in exchange for non-voting preference shares in Angola International Capital Ltd., a subsidiary of the Angola Account and parent of the issuer of the bonds.
For further information on Africa International Capital Ltd (BSX Ticker: AICA.BH), please contact media relations at ross@acuityreputation.com or Christopher Darnell, Chief Executive Officer, at info@africaic.com.