Botswana Savings Bank (BSB or the Issuer), established under the Botswana Savings Bank Act CAP 56:03, continues to strengthen its financial position through its Domestic Note Programme, which has a total size of BWP 1,000,000,000. Under this Programme, BSB has issued BWP 50,000,000 in Subordinated Unsecured Tier II Fixed Rate Notes with a 10.60% annual fixed interest rate, maturing on December 19, 2034.
This issuance marks a significant milestone in BSB’s financing strategy and was conducted through a private placement. The Botswana Stock Exchange Limited (BSEL) has approved the listing of these Notes, effective December 31, 2024.
Key Details of the Issued Notes:
• BSE Code: BSB-CRB-1234-06
• ISIN Code: BW 000000 5859
• Issue Amount: BWP 50,000,000
• Interest Rate: 10.60% Fixed
• Maturity Date: December 19, 2034
• Type of Offering: Subordinated Unsecured Tier II Notes (private placement)
The Notes are issued under the Programme Memorandum dated March 21, 2022, as updated by the Supplementary Programme Memorandum on February 28, 2024. The Domestic Note Programme enables BSB to issue both secured and unsecured Senior or Subordinated Notes in Botswana Pula (BWP) with varying maturities.
Strategic Significance
The issuance of these Notes reinforces BSB’s commitment to enhancing its capital base in compliance with regulatory requirements and supporting its growth objectives. Tier II capital provides a stable source of funding for the bank, ensuring financial resilience while aligning with international banking standards.
Investor Information
The BWP 50 million Notes are exclusively offered to institutional investors through private placement. As such, they are not available for subscription by the general public. The offering and subsequent listing comply with the Botswana Stock Exchange Limited Listing Requirements and the terms of the Programme Memorandum.
This press announcement serves as an informative statement and does not constitute a comprehensive offer document. Prospective investors are advised to refer to the Programme Memorandum and consult their financial advisors for detailed information regarding the Notes and associated risks.
Botswana Savings Bank continues to prioritize transparency and robust financial practices, ensuring confidence among its investors and stakeholders. The listing of these Notes on the BSEL underscores the institution’s commitment to market engagement and financial growth.
For further details, please contact Botswana Savings Bank.
