New Telegraph 
Stanbic IBTC Capi – tal Limited has announced that it acted as the Lead Issuing House for Presco PLC’s successful issuance of its N82,896,000,000 7-year 23.75 per cent senior unsecured fixed rate Series I Bonds under its N150 billion bond issuance programme with the Securities and Exchange Commission (SEC).
The proceeds from the transaction will enable the company fund its acquisition of a 100 per cent equity stake in Ghana Oil Palm Development Company (GOPDC), further supporting its strategic expansion objectives.
Speaking on the transaction registration, Mr Reji George, Managing Director/CEO, Presco Plc stated: “The successful completion of our Series 1 Bond issuance solidifies Presco’s foundation for continued growth and expansion.
Aligned with our strategic objectives of increasing our planted area of palm oil and, to lead Africa in the fully integrated edible oil and fats business in the nearest future, the proceeds from this issuance will be primarily directed towards the acquisition of a majority equity stake in the Ghana Oil Palm Development Company (GOPDC).
“This not only enhances our operational efficiencies, It also solidifies our market presence and competitive advantage in the palm oil sector beyond Nigeria. Most importantly, this will enable us to better serve our valued customers and deliver sustainable value to our shareholders.
We extend our sincere gratitude to Stanbic IBTC Capital and all our advisors for their support throughout this process.”
