LONDON (Alliance News) - African banking group Atlas Mara Ltd on Friday said it has placed another USD17.4 million in senior convertible notes.
The company, co-founded by former Barclays PLC chief executive Bob Diamond, said one of its subsidiaries subscribed for USD6.0 million of the bonds to facilitate an investment by African investors.
The bonds will be convertible into Atlas Mara shares a USD11.00 per share and in the meantime will pay 8.0% interest. Atlas Mara shares closed at USD4.39 on Thursday.
Atlas Mara will use the proceeds to fund near-term acquisition opportunities and for general corporate purposes.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
