Standard Bank served as mandated lead arranger and lender of a GHS45 million revolving credit facility to Bayport Savings and Loans (Ghana) Plc. The proceeds of the facility will be used to bridge finance for Bayport Ghana’s loan book and for general corporate purposes.
Standard Bank is a major advisor and lender to the Bayport group across Africa and through this transaction Standard Bank is now Bayport’s core relationship bank in Ghana.
The funding solution comes on the back of Bayport Ghana’s ongoing bond programme and provides the much-needed bridge to the company’s liquidity requirements between bond issuances.
The funding for Bayport Ghana represents Standard Bank’s first-ever funding to the company. The facility is structured with built-in flexibility that allows Bayport Ghana to drawdown, repay and redraw to meet their liquidity requirements with the option to rollover multiple times.
Bayport Ghana was established in 2003 as a finance house. In 2017 the company merged with CFC Savings and Loans and obtained a savings and loans licence. The company is a subsidiary of Bayport Management Limited (BML), a leading emerging markets financial services provider with operations in nine countries in Africa and South America.
Bayport Ghana is currently the leading savings and loans institution in Ghana, providing micro-lending to small-scale business as well as consumer and payroll lending to individuals.
The transaction demonstrates Standard Bank’s commitment to support their clients across multiple geographies and expertise to structure and deliver tailor-made solutions.
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