Building a brighter tomorrow
The Eastern and Southern African Trade and Development Bank (PTA Bank) was established on 6 November 1985 following the provisions of the Treaty of 1981 establishing the Preferential Trade Area (PTA), which has since been transformed into the Common Market for Eastern and Southern African States (COMESA), as a financial arm of the integration arrangement.
The Eastern and Southern African Trade and Development Bank (PTA Bank) was established on 6 November 1985 following the provisions of the Treaty of 1981 establishing the Preferential Trade Area (PTA), which has since been transformed into the Common Market for Eastern and Southern African States (COMESA), as a financial arm of the integration arrangement.
NEWS AND EVENTS
ISSUING BONDS
PTA Bank issues Sh40 bn bond in Uganda September 28, 2009
News and Events
News & Events Detail
PTA Bank issues Sh40 bn bond in Uganda
Nairobi, September 28, 2009: The PTA Bank has issued a Uganda shillings 40 billion bond to be listed at the Uganda Stock Exchange
The issuance of the Bond has been given the nod by both the Uganda Stock Exchange and the industry’s regulator, the Capital Markets Authority.
Stanbic Bank is playing the role of arranger and lead placing agent for the issue while the sponsoring broker and co-placing agent is African Alliance Uganda Limited.
The medium term bond, which closes on October 2, 2009, offers both a fixed and floating rate which is expected to meet the diverse expectations of investors.
The PTA Bank had earlier issued a five year Uganda Shs15 billion local currency bond in 1999 which was fully redeemed on its maturity in 2004. The Bank has also issued bonds worth US dollars 25 million in Kenya which are listed at the Nairobi Stock Exchange.
“We believe in deepening the stock markets of the countries that we operate in through issuance of such instruments,” said the President of the Bank, Dr. Michael Gondwe. The Bank will use the proceeds to finance project activities in Uganda requiring local currency.
The Bank has been active in Uganda over the last couple of years, and has so far provided financing amounting to US dollars 116 million to support trade and project activities in the country. The Bank has in particular supported Uganda’s export growth by financing coffee and cotton exports initially through its Structured Pre-shipment Financing Facility and subsequently, by directly financing exporters.
The current bond is expected to excite players in Uganda’s capital markets by providing investors with a good investment instrument that will be traded at the stock exchange.
The Bank has received favourable ratings from Fitch Ratings and Global Credit Rating. Fitch has given the Bank a long term rating a BB- (Double B Minus) and a short term rating of B.
Global Credit Rating on the other hand has accorded a A1 local currency short term rating and a AA local currency long term rating. The rating agency has also accorded the Bank a BB long term rating.
PTA Bank remains one of the most well capitalized DFI on the continent, with authorized capital standing at US$ 2 billion while subscribed capital stands at US$ 1.18 billion. Last year, the Bank posted a 20 percent increase in net interest income to stand at US$ 15.2 million, up from US$ 12.7 million the previous year.
Profits stood at US$ 12.5 million at the end of 2008, an 87 percent increase from the previous year’s profit level of US$ 6.6 million.
The issuance of the Bond has been given the nod by both the Uganda Stock Exchange and the industry’s regulator, the Capital Markets Authority.
Stanbic Bank is playing the role of arranger and lead placing agent for the issue while the sponsoring broker and co-placing agent is African Alliance Uganda Limited.
The medium term bond, which closes on October 2, 2009, offers both a fixed and floating rate which is expected to meet the diverse expectations of investors.
The PTA Bank had earlier issued a five year Uganda Shs15 billion local currency bond in 1999 which was fully redeemed on its maturity in 2004. The Bank has also issued bonds worth US dollars 25 million in Kenya which are listed at the Nairobi Stock Exchange.
“We believe in deepening the stock markets of the countries that we operate in through issuance of such instruments,” said the President of the Bank, Dr. Michael Gondwe. The Bank will use the proceeds to finance project activities in Uganda requiring local currency.
The Bank has been active in Uganda over the last couple of years, and has so far provided financing amounting to US dollars 116 million to support trade and project activities in the country. The Bank has in particular supported Uganda’s export growth by financing coffee and cotton exports initially through its Structured Pre-shipment Financing Facility and subsequently, by directly financing exporters.
The current bond is expected to excite players in Uganda’s capital markets by providing investors with a good investment instrument that will be traded at the stock exchange.
The Bank has received favourable ratings from Fitch Ratings and Global Credit Rating. Fitch has given the Bank a long term rating a BB- (Double B Minus) and a short term rating of B.
Global Credit Rating on the other hand has accorded a A1 local currency short term rating and a AA local currency long term rating. The rating agency has also accorded the Bank a BB long term rating.
PTA Bank remains one of the most well capitalized DFI on the continent, with authorized capital standing at US$ 2 billion while subscribed capital stands at US$ 1.18 billion. Last year, the Bank posted a 20 percent increase in net interest income to stand at US$ 15.2 million, up from US$ 12.7 million the previous year.
Profits stood at US$ 12.5 million at the end of 2008, an 87 percent increase from the previous year’s profit level of US$ 6.6 million.
OUR SHARE HOLDERS
