Letshego Holdings Limited - Letshego Holdings Limited - Issue of Senior Secured Notes Under DMTN

Letshego Holdings Limited - Issue of Senior Secured Notes Under DMTN

Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
(“Letshego Holdings” or “the Company”)

This announcement is being released on the Johannesburg Stock Exchange
for information purposes only in respect of Letshego Holdings
Limited’s Note Programme

TRADING ANNOUNCEMENT – Interim Results

Letshego Holdings Limited is a leading provider of unsecured consumer
loans, is listed on the Botswana Stock Exchange, is Botswana
International Financial Services Centre accredited and has operations
in 11 African countries in Southern and Eastern Africa.

The Board of Directors of the Company would like to inform
Shareholders that the Company has completed the listing of a Medium
Term Note (MTN) program on the Botswana Stock Exchange (BSE) and the
Johannesburg Stock Exchange (JSE).

As part of this process, the Company has completed an issue of the
first tranche under the MTN raising ZAR 700 million on the capital
markets to support the continued growth of the Letshego Group.  This
is a ground breaking transaction in that it is the first and largest
inward listed bond by any Sub Saharan corporate on the JSE and
attracted RSA based as well as international investors.

A combination of fixed and floating senior secured     bonds   will   be
issued on 13 December 2012 under this first tranche.

The Floating Rate Bond, the LHL01 due 13 December 2015, raised ZAR 281
million and was issued at a credit spread of 500 basis points over the
3-month JIBAR rate. The initial rate payable will be 10.125% nominal
annual compounded quarterly.

The Fixed Rate Bond, the LHL02 also due 13 December 2015, raised ZAR
194 million and was issued with a fixed coupon of 10.70% compounded
semi-annually, which equates to a credit spread of 525 basis points
above the RSA Government R157 Bond.

The Floating Rate Bond LHL03 due 13 December 2016, raised R225 million
and was issued at a credit spread of 600 basis points over the 3-month
JIBAR rate.   The initial rate payable will be 11.125% nominal annual
compounded quarterly.
This is a debut issue by Letshego Holdings Limited under a JSE listed
ZAR 2.5 billion Medium Term Note (MTN) program.


Gaborone
12 December 2012

Debt sponsor in South Africa
Rencap Securities (Pty) Ltd

Sponsoring broker in Botswana
Stockbrokers Botswana Limited

Date: 12/12/2012 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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