The Energy Sector Levy Act (ESLA) Plc has extended the closing date for the GHS260 million 12-year Ghana cedi denominated bond.

It is seeking to raise GHS260 million additional funds which the offer began on 24 December, 2019 and ends tomorrow 30 December, 2019. The bond also represents Tranche E4 under the GHS10-billion programme.

In a statement, ESLA Plc said “we would like to announce the extension of the closing date of the Tranche E4 due to the holidays. New dates will be communicated on Monday 30 December, 2019 subject to SEC approval.”

The minimum and maximum issue sizes are expected to be GHS100 million and GHS1 billion, respectively.

ESLA Plc has, since inception, issued bonds worth GHS6.664 billion. This resulted from issuances in November 2017 (7-year tranche E1 and 10-year tranche E2), January 2018 (tap of 10-year tranche E2-B), August 2018 (tap of 10-year tranche E2-C) and June 2019 (10-year tranche E3), August (tap of 10-year tranche E2-C) and June 2019 (10-year tranche E3).

Significantly, a buy-back and subsequent cancellation of bonds worth GHS664 million in June 2019 brought the total outstanding bond under the programme to GHS6 billion.

ESLA was introduced to facilitate the reduction of the energy legacy debts that had engulfed the energy sector.