Access Financial Services Limited, and Dolla Financial Services Limited
Rumble in the Bronx
Leading microfinance firm, Access Financial Services (JSE: AFS) is in the market currently for up to J$ 2 billion corporate note/ bond, priced at 11% interest rate. It is unsecured with a 5-year tenor, and the arranger is PROVEN Wealth Limited. As of late, AFS has even been doing timely radio ads as well. The fundraise makes sense for both parties, as AFS’s loan book has been around J$ 4.0 – J$ 4.5 billion for quite a while now. Most micro-financiers fund their growth via debt, loan payables, corporate bonds, and so forth, and notably PROVEN Investment Limited is a top shareholder in AFS, at just under 25%.
ITSMONEYMARK 