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Botswana Housing Corporation, BWP300m, Bond due 2025

Dec 31, 2018

Botswana Housing Corporation (BHC) established a note programme under which it may occasionally issue tranches of notes denominated in Botswana Pula. The tranche of notes was issued by way of private placement under the programme and the listing was approved from 12 December 2018. Standard Bank acted as bookrunner and mandated lead arranger for this deal. 

The issuance came on the back of a series of investor meetings which took place in Gaborone in the first half of 2018. As a result of investor interest in the deal, the bookrunners were able to raise the largest corporate bond listed on the Botswana Stock Exchange in 2018. The issuance followed a bridge to bond for BHC, setting precedence for other issuers in the region. 

BHC is a property development and estate management service company, incorporated in Botswana in terms of the Botswana Housing Corporation Act of 1970. As a wholly owned subsidiary of the Government of Botswana, it is mandated to take full responsibility to provide the government and local authorities with all their housing, office and other building needs, and can be facilitated through third parties.

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