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.