Fosrich Company Limited (FOSRICH) Issues Notes

Fosrich Company Limited (FOSRICH) has issued 2 series of Notes during the week including a 6.75% Asset Backed Notes due 2020, valued at up to J$460Mn in the aggregate and a 9.50% Unsecured Notes due 2020, valued at up to J$200 million. FOSRICH further advised that this new facility replaces the existing J$460 million Mayberry facility and will be used to support the financing required for their new projects. These new projects include the completion of its Manufacturing segment which is expected to come on stream by late January. The new manufacturing business is expected to supply both the domestic and export markets. 

(Source: JSE)