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Atlas Mara Replaces Convertible Bond With USD40 Million Of Debt

Mon, 06th Aug 2018 11:37

LONDON (Alliance News) - Financial services firm Atlas Mara Ltd on Monday said it has agreed a new USD40 million debt facility, replacing an existing convertible bond.

The funding is for three years, and has an average annualised cost of debt of around 11%, and has been secured using part of Atlas Mara's shareholding in Union Bank of Nigeria.

It replaces a convertible bond issued to Atlas Mara's largest shareholder, Fairfax Africa Holdings Corp.

Atlas Mara said the funds will be used for general purposes, for investment in its digital finance platform, and supporting broader business growth.

Chief Executive John Staley said: "We are pleased to announce this new financing, which is a strong indication of investor interest and support from our existing shareholders and the broader market.

"The funding will enable investments to boost our IT and banking capabilities and support business operations."

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5 Sep 2014 07:28

Atlas Mara Ups Union Bank Of Nigeria Stake To 29.9% For USD270 Million

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5 Sep 2014 07:17

UK MORNING BRIEFING: BP Shares Open Lower On US Fine Threat

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15 Aug 2014 10:39

Bob Diamond's Atlas Mara Reports USD17.3 Million Loss

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3 Jul 2014 17:28

Atlas Mara Subsidiary Launches ADV African Developments Public Share-For-Share Offer

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13 Jun 2014 15:24

PRESS: Atlas Mara To Miss Latest Fundraising Target - FT

LONDON (Alliance News) - Bob Diamond's Atlas Mara cash shell has failed to secure the additional USD400 million he was targeting for his African venture after some investors balked at the second fundraising in six months, the Financial Times reports Friday, citing two people familiar with the sit

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23 May 2014 10:01

MARKET COMMENT: Go-Ahead Rallies On New Contact, But UK Indices Mixed

LONDON (Alliance News) - UK stocks are trading mixed Friday with investors finding little reason to significantly add to positions at the end of a relatively muted week for equity trading and ahead of a long weekend, although there are some notable individual movers. By mid-morning Friday t

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23 May 2014 07:54

Diamond's Atlas Mara To Acquire Commercial Arm Of Rwandan Bank

LONDON (Alliance News) - Atlas Mara Co-Nvest Ltd, the investment firm co-founded by former Barclays PLC Chief Executive Bob Diamond, Friday said it has agreed to acquire the government of Rwanda's 77% stake in the commercial arm of the Development Bank of Rwanda. The news comes after Atlas

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23 May 2014 07:34

UK MORNING BRIEFING: Smiths Group And Tullow Oil Drag On FTSE 100

LONDON (Alliance News) - UK shares have opened mixed Friday, with mid- and small caps posting small gains while the FTSE 100 has started lower.

Smiths Group and Tullow Oil are depressing the blue-chip index, as Smiths warned about the results of one

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15 May 2014 15:14

Atlas Mara Says Proceeds From IPO Easily Accessible When Required

LONDON (Alliance News) - Atlas Mara Co-Nvest Ltd, which raised USD325.0 million in an initial public offering in December, said Thursday the net proceeds from its IPO are easily accessible when required. In an interim management statement for the period November 28 to March 31, the company

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14 May 2014 11:38

Atlas Mara confirms 400m dollar fundraising

Atlas Mara Co-Nvest, the Africa-focused banking investor founded by ex-Barclays boss Bob Diamond, confirmed late on Tuesday that it planned to raise a gross 400m dollars in a private placement. The London-listed company said it it intended to sell 36.5m new shares at $11 per share to institutional

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14 May 2014 07:29

UK MORNING BRIEFING: ITV Weighs On FTSE 100 Despite Strong Revenue

LONDON (Alliance News) - Share have opened mixed in London Wednesday, with the FTSE 100 underperforming small- and mid-cap indices, ahead of UK economic data and announcements by the Bank of England.

The blue-chip index is being weighed down by broadcaster ITV, whos

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13 May 2014 17:36

Atlas Mara Plans Placing To Raise USD400 Million

LONDON (Alliance News) - Atlas Mara Co-Nvest Ltd Tuesday said it plans to privately place 36.5 million shares at an issue price of USD11.00 per share to raise roughly USD400 million. The investment company said it plans to use the proceeds to support the growth of its ABC Holdings Ltd inves

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13 May 2014 15:25

Atlas Mara plans major fundraising

Atlas Mara, the Africa-focused banking investor founded by Bob Diamond, has begun working on a new capital raising to continue its acquisitive spree. Co-founded by ex-Barclays chief Diamond and Ugandan financier Ashish Thakkar, Atlas Mara acquired Botswana-based BancABC for $265m in cash and share

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8 Apr 2014 11:14

Diamond's Atlas Mara Poaches New Chief Executive From Barclays

LONDON (Alliance News) - Bob Diamond, the former Chief Executive of Barclays PLC, has turned to his old stomping ground in order recruit the new leader of Atlas Mara Co-Nvest Ltd, the investment company he co-founded to make financial services acquisitions in Africa. In a statement, Tuesday

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8 Apr 2014 10:34

TOP NEWS: Sports Direct Founder Sells 4% Stake For GBP204 Million

LONDON (Alliance News) - The following is a summary of top news stories Tuesday.
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COMPANIES
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Sports Direct International PLC said Mike Ashley, its founder and deputy chairman, sold 24 million ordinary shares, representin

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