Bayport seeks to merge two bond series, align them with recent issue

By Susanna Moon

Chicago, March 18 – Bayport Management Ltd. said it is asking for holder approval to merge two series of bonds and to align the terms of one series with those of a more recent issue.

Specifically, the company is looking to merge the SEK 800 million 13% bond loan due June 12, 2017, issued in 2013, into the SEK 700 million 13% bond loan due June 12, 2017, issued in 2012, according to a notice.

Bayport also is seeking to align the terms of the bond loan issued in 2012, or the combined bond loan, with those of the maximum SEK 1.5 billion 12% bond loan due Oct. 23, 2018, issued on Oct. 23, 2015.

Holders may reply by written procedure until April 15 and the voting record date is April 8.

The results will be announced on April 18.

Bayport said it will hold two bondholders meetings by way of written procedure.

The issuer provides financial services in Botswana, Colombia, Ghana, Mexico, Mozambique, South Africa, Tanzania, Uganda and Zambia. Bayport is based in Ebene, Mauritius.

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