ESLA seeks GH¢3.47bn bond redemption by Dec 2.

E.S.L.A. PLC, an energy sector bond issuer, has announced plans to redeem GH¢3.47 billion in bonds by December 2, 2024, as part of Ghana’s debt restructuring initiatives.

This move follows a recent 90% buyback of GH¢1.04 billion in bonds, aiming to reduce E.S.L.A. PLC’s liabilities and support debt reduction efforts in Ghana’s energy sector.

Bondholders, including those holding Tranches E2 to E5, will have the opportunity to vote on adjustments to bond maturity and interest payment dates in a virtual meeting on November 26, 2024.

E.S.L.A. PLC’s strengthened financial position, with assets totaling GH¢5.32 billion and profits up to GH¢165.75 million as of Q3 2024, underpins its buyback strategy.

This plan aligns with Ghana’s broader debt sustainability goals, including the Domestic Debt Exchange Programme, which offers early redemption options to bondholders.