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Quantum Terminals makes GHS 8.3m payment to holders of its 10yr note

by nanatody
written by nanatody

Quantum Terminals PLC (QTPLC) has announced the transfer of GHS8,337,500.00 from its Debt Service Accrual Account with Stanbic Bank Ghana Ltd to the Trust Account with Guaranty Trust Bank Ghana Ltd. The transferred amount represents the interest and principal repayment due to holders of the 1st Tranche of the IO-year Guaranteed and Secured Notes on 9th March, 2023. This transfer is in compliance with Condition 7 of the Notes Prospectus, which mandates QTPLC to move funds into the Trust Account by the 10th Business Day before the Interest Payment Date.

The transfer of interest and principal repayment from QTPLC to noteholders is a significant event in the financial market, demonstrating QTPLC’s commitment to fulfilling its obligations to noteholders. The move also underscores the company’s sound financial management practices and commitment to transparency and accountability.

QTPLC is a leading player in the Ghanaian energy industry, providing world-class logistics and storage solutions for petroleum products. The company has built an impressive track record of delivering value to its stakeholders through its innovative and customer-focused approach. The IO-year Guaranteed and Secured Notes were issued by QTPLC to finance the expansion of its storage facilities and other strategic initiatives.

The transfer of funds from the Debt Service Accrual Account to the Trust Account is a routine process that is required by Condition 7 of the Notes Prospectus. This condition stipulates that QTPLC must move funds into the Trust Account by the 10th Business Day before the Interest Payment Date to ensure that noteholders receive their due interest and principal payments on time. The move underscores QTPLC’s commitment to fulfilling its obligations to noteholders and maintaining its reputation as a reliable and trustworthy issuer of debt securities.

The transfer of funds from the Debt Service Accrual Account to the Trust Account is an important step in the repayment process for the 1st Tranche of the IO-year Guaranteed and Secured Notes. The move signals QTPLC’s commitment to meeting its financial obligations to noteholders, which is essential for maintaining investor confidence and attracting future capital. The company’s sound financial management practices, coupled with its innovative approach to the energy industry, position it as a strong player in the Ghanaian market.

Overall, the transfer of interest and principal repayment from QTPLC to noteholders is a positive development for the company and the broader financial market. The move demonstrates QTPLC’s commitment to fulfilling its obligations to noteholders and maintaining its reputation as a reliable and trustworthy issuer of debt securities. The company’s sound financial management practices, coupled with its innovative approach to the energy industry, position it as a strong player in the Ghanaian market and beyond.

Source: https://norvanreports.com/quantum-terminals-makes-ghs-8-3m-payment-to-holders-of-its-10yr-note/

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Quantum supports Axim Kundum, BECE candidates

by nanatody
written by nanatody

This year’s Kundum festival of the chiefs and people of Lower and Upper Axim Traditional Councils has received a cash donation of GH¢10,000 and assorted drinks from Quantum Terminals PLC.

The Kundum festival is celebrated by the Ahanta and Nzema people of the Western Region to give thanks to the gods for the abundance of food at the end of the harvest period.

Presenting the cash and assorted drinks at the grand durbar of the Kundum festival in Axim, the Terminal Manager at Quantum, Micheal Bantey emphasized the significance of the Kundum festival to the people, hence Quantum’s decision to be part of the memorable occasion.

“We at Quantum are now citizens of the Nzemaland and cherish the rich culture of the people. We are therefore proud to partner and support the traditional council in the celebration of the festival as well as future events to bring development in the area,” he said.

The Axim Kundum Festival Planning Committee Chairman, Nana Nkwantabisa while receiving the drinks and cash donation from Quantum expressed the appreciation of the chiefs and people to Quantum for the sponsorship package. He was hopeful that the generous gesture by Quantum will mark the beginning of a lasting and cordial relationship between the company and Nzema’s.

Meanwhile, as part of its Education Improvement Programme for the catchment communities, Quantum Terminal has organized a free mock examination for all candidates in the Atuabo circuit to prepare them for the upcoming Basic Education Certificate Examination, BECE, slated for October 2022. In all, 300 students from 10 schools, comprising both private and public schools within the Atuabo circuit sat for the mock exam at the Eikwe and Atuabo centres. Quantum as part of the arrangement also motivated teachers to supervise the exams and mark the papers.

The Corporate Social Responsibility Coordinator at Quantum, Vincent Amihere, charged the students to take the mock exam seriously to enable them pass well in the main BECE exam in order to become beneficiaries of the free Senior High School Programme.

Quantum which operates a terminal at Anokyi in the Ellembelle District will also be providing feeding support during the BECE, distribution of mathematical sets and transportation to and from the exam centre for all candidates.

The Quantum free mock and exam support began in 2018 as a means to give the students exposure and the confidence needed during the BECE exam.

Source: https://citinewsroom.com/2022/09/quantum-supports-axim-kundum-bece-candidates/

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Quantum terminals group lists ghs 45 million guaranteed corporate bond to support lPG storage business in Ghana

by nanatody
written by nanatody

Quantum Terminals Group (QTG), a leading energy infrastructure developer in Ghana, has today listed a corporate bond on London Stock Exchange’s International Securities Market. QTG listed a GHS 45 million (USD 10 million) corporate bond, guaranteed by GuarantCo, to support the operations of its liquid petroleum gas (LPG) storage business.

To celebrate the launch, London’s markets were opened by Harriett Baldwin, the Minister of State for Africa, His Excellency Papa Owusu-Ankomah, Ghana’s High Commissioner to the United Kingdom and Ireland and Emmanuel Egyei-Mensah, Executive Director of Quantum Terminals Group.

The QTG bond is the first local currency corporate bond from Ghana and West Africa to be listed on London Stock Exchange. In May 2018, the bond was listed on the Ghana Stock Exchange as the first 10-year tenor bond issued by a non-financial institution on the Ghana Fixed Income Market. The bond has a 75 percent partial credit guarantee from GuarantCo, the guarantee arm of the Private Infrastructure Development Group (PIDG), for the benefit of local pension fund investors that have subscribed to the issue. This is the first tranche of a planned GHS 140 million bond programme by QTG.

The bond’s innovative nature and ability to strengthen capital markets in Ghana is in line with GuarantCo’s vision to support local currency financing for infrastructure projects in lower income countries to assist with the alleviation of poverty. This bond issuance is expected to have significant demonstrative effect in Ghana.

Harriett Baldwin, Minister of State for Africa, said: “At the Commonwealth Summit in April, the Secretary of State announced the UK’s support to help African countries raise debt in their local currencies. Today, we deliver on this commitment as we celebrate the first ever Ghanaian Cedi bond to be listed on the London Stock Exchange. “Ghana is one of the world’s fastest growing economies and there are significant opportunities for the UK and Ghana to deepen our economic partnership. Today’s listing marks an important milestone which will support development in Ghana and provide opportunities for UK-based investors, a win-win.”

Emmanuel Egyei-Mensah, Executive Director of Quantum Terminals commented: “The success of the bond is testament of investor interest in building exposure to Ghana which we are now looking to expand through our London listing. GuarantCo’s guarantee has been critical in facilitating our first local currency corporate bond transaction. This is a great example of how development finance institutions should be partnering with the private sector. The London listing of the bond will signal a new beginning for corporates accessing capital markets in Ghana.”

Lasitha Perera, CEO of GuarantCo, said: “The listing today represents a major milestone for Quantum Terminals Group and GuarantCo. Supporting the development of local capital markets is a priority for PIDG companies, and Ghana’s capital markets have a crucial role to play in the development of the country’s infrastructure sector that is critical to its economic development and future prosperity. We hope that through this precedent and framework, the listing will encourage other corporates so that investors can benefit and stimulate the growth of local capital markets in Africa.”

Darko Hajdukovic, Head of Fixed Income, Funds & Analytics, UK Primary Markets, London Stock Exchange Group said: “We are delighted to welcome the first local currency corporate bond from Ghana to our International Securities Market. London Stock Exchange continues to offer international fixed income issuers access to London’s highly efficient and deep capital markets. We are committed to building London’s position as the international centre for local currency offshore capital raising and we congratulate Quantum Terminals on their listing.”

EU funded research has suggested that LPG is one of the cleanest thermal fuels available in terms of CO2 emissions, which on average, in industrial use, generates 15 percent less CO2 per kilowatt hour than oil and 50 percent less than coal. QTG helps to increase the uptake of LPG for domestic use, substituting coal and wood, the resultant fumes of which when used in cooking, has detrimental health impacts on residents. Women and children in particular spend on average more time in the house compared to men and will see significant health benefits from substituting wood and charcoal with zero emission LPG.


Source:https://www.ghanaweb.com/GhanaHomePage/business/Quantum-terminals-group-lists-ghs-45-million-guarantCo-guaranteed-corporate-bond-to-support-lPG-storage-business-in-Ghana-704682

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Cocoa sector to receive boost from Quantum Terminals

by nanatody
written by nanatody

Ghana’s cocoa processing sector is expected to receive a major boost as Logistics Company, Quantum Terminals plans to establish a US$80million cocoa processing plant in Tema.

The project which is currently ongoing would have a production capacity of 64,000 metric tonnes when fully completed, and seeks to add value to the products which is often exported in its raw form.

The company had started with the first phase of the project which will process 32,000 metric tonnes and the second phase would start once the plant becomes operational.

Executive Chairman of Quantum Terminals, Mr Emmanuel Egyei- Mensah said, “we already have the company set up and the project is ongoing. We are going to build a cocoa processing plant and it will be located in Tema.”

“We are building a 64,000metric tonnes processing plant. We are starting with phase one which is 32, 000 metric and once it is operational we will start with the second phase of 32,000. We are investing US$80 million in this project,” he said in an interview after the company listed a 10-year corporate bond on the Ghana Fixed Income Market of the Ghana Stock Exchange (GSE).

He said the focus on the cocoa sector was part of efforts to support government’s industrialisation agenda and to create jobs.

“We are always looking for opportunities to invest and as you are aware, government is pushing processing as part of the ‘One District, One Factory’ project that is going on and we think the cocoa processing sector is good place to invest in,” he said.

Job creation

Mr Egyei-Mensah said the company had got to a stage where it is focusing on job creation to augment what government was currently doing and the cocoa sector project was going to help in that regard.

“The number of jobs that government can create is limited and the private sector that can help. It rests on entrepreneurs like us to do what we have to do to create jobs. Through this project, we can create more jobs for our people. We have reached the stage where we are becoming more social on how to create jobs,” he said.

The next level

The company, he explained, would pursue a strategy that will enable the distribution of LPG to more people and in line with that will invest US$52million to build the refiling plants in three areas; Atuabo, Tema and Kumasi to support the government objective of moving everyone unto the cylinder recirculation system which is much safer than the model currently being operated.

“We are following up with the second strategy of now enabling the distribution, we can make it available to people who are not able to access LPG. LPG is a migration from using firewood and charcoal and that will save the environment as well as the health of the people,” he said.

He added “when you see the smoke our mothers inhale while using firewood in the kitchen, once you migrate them on to the LPG, there is a lot of savings in terms of health for personal as well as government health budget because they don’t have to go to the hospital that much.” — GB

Source:https://www.graphic.com.gh/business/business-news/cocoa-sector-to-receive-boost-from-quantum-terminals-plans-to-set-up-us-80m-processing-plant-ongoing.html

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Quantum Terminals Limited secures guarantees for $10m bond

by nanatody
written by nanatody

Quantum Terminals helps to increase the uptake of LPG for domestic use, substituting coal and wood

PIDG Company GuarantCo has signed a deal with Quantum Terminals to support the operations of Quantum’s Liquefied Petroleum Gas (LPG) storage business in Ghana.

Quantum Terminals is issuing a GHC45 million ($10 million) 10-year corporate bond on the Ghanaian Stock Exchange.

This is the first corporate bond to be issued by a non-financial institution in Ghana.

The bond has a 75% partial credit guarantee from GuarantCo, for the benefit of pension fund investors that have subscribed to the issue.

This is the first tranche of a GH¢140 million bond programme by the company.

Quantum Terminals is the first non-financial institution to issue a corporate bond on the Ghana Fixed Income Market.

The long tenor of 10 years is also a first in the Ghanaian corporate bond market.

The local currency nature of the bond will allow Quantum Terminals to manage future exchange rate volatility.

The bond’s innovative nature and ability to strengthen capital markets in Ghana is inextricably connected to GuarantCo’s mission, which is to support the development of capital markets and infrastructure in emerging and frontier markets, to assist with the alleviation of poverty.

This bond issuance is expected to have significant demonstration effect in Ghana.

GuarantCo CEO, Lasitha Perera said, “GuarantCo is delighted to have partnered with Quantum Terminals Limited on this landmark corporate bond issue, which will support the construction of essential energy infrastructure. Ghana’s capital markets have a crucial role to play in the development of the country’s infrastructure sector, which is critical to its economic development and future prosperity. It is our hope that through the precedents and framework that this transaction establishes other corporates, and investors can benefit and stimulate the growth of the local capital markets.”

In an allied development, another PIDG company, the Emerging Africa Infrastructure Fund (EAIF) announced today it has agreed terms to lend US$10 million to Quantum Terminals.

EAIF is one of the leading providers of debt funding to private infrastructure projects in Africa.

EAIF and GuarantCo are the joint Mandated Lead Arrangers of the debt finance for the gas storage and power station projects.

Financial close on the EAIF loan to Quantum Terminals is expected later this month.

Emmanuel Egyei-Mensah, Executive Director at Quantum Terminals, said, “This is not only the first 10-year guaranteed and secured notes in Ghana, but also the first by a non-financial institution in the country and GuarantCo’s guarantee has been very critical in facilitating this transaction. This is a great example of how development finance institutions should be partnering with the private sector. I believe the completion of this bond will signal a new beginning for corporates accessing capital markets in Ghana. We expect this to be the first of many more”.

EU-funded research has suggested that LPG is one of the cleanest thermal fuels available in terms of CO2 emissions, which on average, in industrial use, generates 15% less CO2 per kilowatt hour than oil and 50% less than coal.

Quantum Terminals helps to increase the uptake of LPG for domestic use, substituting coal and wood, the resultant fumes of which when used in cooking has detrimental health impacts on residents.

Women and children, in particular, on average spend more time in the house compared to men and will see significant health benefits from substituting wood/charcoal with zero emission LPG.


Source: https://www.ghanamma.com/2018/05/13/quantum-terminals-limited-secures-guarantees-for-10m-bond/

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Quantum Terminals issues US$10 Million corporate bonds on GSE

by nanatody
written by nanatody

Quantum Terminals issues US$10 Million corporate bonds on GSE]

Quantum Terminals an operator in Ghana’s petroleum sector became the first non-financial institution to issue Corporate Bond on Ghana’s Fixed Income Market at the Ghana Stock Exchange (GSE) with the listing of its 10 million US Dollar Bonds on the bourse on Thursday.

The cedi (local currency ) equivalent of the amount is 45 million Ghana cedis and is the first tranche of a total of GH¢140 million bond programme planned by the company with a 75% partial credit guarantee from GuarantCo, for the benefit of pension fund investors that have subscribed to the issue.

Executive Chairman of Quantum Terminals, Emmanuel Egyei-Mensah, said at the listing that the capital would enable the company construct new storage terminals across the country as well as three storage facilities, including LPG storage across the country.

‘The first one would be completed in June and the remaining two would be completed in the course of the year,’ Egyei-Mensah said.

He explained, “This is not only the first 10-year guaranteed and secured notes in Ghana, but also the first by a non-financial institution in the country and GuarantCo’s guarantee has been very critical in facilitating this transaction. This is a great example of how development finance institutions should be partnering with the private sector.

The next level of the company’s strategy according to him was to construct three refilling plants at Atuabo, Kumasi and Tema at the cost of US $ 52 million by next year.

“GuarantCo is delighted to have partnered with Quantum Terminals Limited on this landmark corporate bond issue, which will support the construction of essential energy infrastructure. Ghana’s capital markets have a crucial role to play in the development of the country’s infrastructure sector,” GuarantCo CEO, Lasitha Perera said.

With this new investment opportnity it is expected that Quantum Terminals will deepen its support for the uptake of LPG for domestic use, substituting coal and wood whose fumes when used in cooking have detrimental health impacts on residents.

Women and children, in particular, on average spend more time in the house compared to men and will see significant health benefits from substituting wood/charcoal with zero emission LPG.


Source: https://www.newsghana.com.gh/quantum-terminals-issues-us10-million-corporate-bonds-on-gse/

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Cantonments – Accra

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