Atlas Mara issues USD100 million to Fairfax Africa

Atlas Mara issues USD100 million to Fairfax Africa

Sub-Saharan focused financial services group, Atlas Mara issued USD100 million mandatory convertible bonds to Fairfax Africa Holdings Corporation.

The Bonds are expected to convert at a conversion price of US$2.25 upon completion of the intended US$100 million equity offering of new ordinary shares to Fairfax Africa and qualifying existing Atlas Mara shareholders.

Capitalised terms not otherwise defined in this announcement shall have the meanings given to them in the Company’s first announcement made on 21 June 2017.