RDC Properties raises $5.5M in bond issue under Botswana note programme
What's the deal? RDC Properties LimitedDealroom has a profile for this one. Try Dealroom → has raised BWP 75,000,000 (roughly $5.5 million) through senior unsecured fixed rate notes issued under its BWP 500,000,000 Medium Term Note Programme. The debt comprises BWP 15,000,000 of notes due July 7, 2027, and BWP 60,000,000 due August 14, 2029.
The mechanics: The notes are senior, unsubordinated, and unsecured, and are listed on the Main Board of the Botswana Stock ExchangeDealroom has a profile for this one. Try Dealroom →. The programme lets the company issue further tranches via private placement or public offer, subject to market conditions.
Who's raising? Incorporated in Botswana in 1996, RDC Properties is a property investment and development group with holdings across Botswana, South Africa, Croatia, Mozambique, Madagascar, Namibia, Zambia, and the US. Its portfolio by gross lettable area spans office (45%), retail (39%), hospitality (8%), industrial (6%), and residential (2%).
What's the money for? The proceeds have been allocated to pipeline project conversions and general corporate purposes. Future notes under the programme will fund expansion, potential acquisitions, and working capital to establish operations in new international markets.
The numbers: For the year ended December 31, 2025, the group's investment property portfolio rose 4.8% in fair value to BWP 5.68 billion, up from BWP 5.42 billion in 2024. South Africa accounts for about 48% of that value; Botswana, 27%.
Debt profile: Aggregate borrowings stood at BWP 2,483,752,000, carrying a weighted average cost of debt of 8.26% and a weighted average expiry of 2.99 years. The group raised roughly BWP 241 million in 2025 by disposing of select South African properties and inventory units.
The signal: The raise shows a listed African property group tapping the local bond market to fund cross-border expansion rather than diluting equity. A diversified portfolio across eight countries acts as a hedge against regional swings and currency risk.
Read more: africanfinancials.com
