Presco Plc has notified the the Nigerian Exchange and the investing public that it obtained approval of its Board of Directors to access medium to long-term debt funding from the domestic capital market of up to N100 Billion series 1 bonds under its N150 Billion bond programme.
All the relevant approvals from the Securities and Exchange Commission in respect of the issuance have been received. The bond issue commences immediately to close on Friday, January 10 2025.
The proceeds of the funds will be applied towards funding the acquisition of Ghana Oil Palm Development Company (GOPDC) Limited and expansion on existing operations by Presco PLC.