Quantum Terminals PLC (QTPLC) – a leading Petroleum infrastructure and Logistics Solution provider in Ghana, has announced the transfer of GH₵8,337,500.00 from its ‘Debt Service Accrual Account’ with Stanbic Bank Ghana Ltd to ‘the Trust Account’ with Guaranty Trust Bank Ghana Ltd.
In a statement released by Quantum, 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.
The transfer, as stated by Quantum Terminals PLC, 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 statement disclosed that 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 dedication to transparency and accountability.
“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 demonstrates QTPLC’s commitment to fulfilling its obligations to noteholders and maintaining its reputation as a reliable and trustworthy issuer of debt securities.”
Quantum Terminals PLC (QTPLC)
Loyalty In The Market Boosts Investor’s Confidence
According to QTPLC, meeting financial obligations to noteholders on time is essential for maintaining investor confidence and attracting future capital.
Overall, the transfer of the interest and principal repayment from QTPLC to noteholders is a positive development for the company and the broader financial market. The initiative demonstrates QTPLC’s effort to maintain 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.”
Quantum Terminals PLC (QTPLC)
The company has built an impressive track record of delivering value to its stakeholders through its innovative and customer-focused approach. Also, the IO-year Guaranteed and Secured Notes were issued by QTPLC to finance the expansion of its storage facilities and other strategic initiatives.
