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SBK
SBK
SBK: Standard Bank Group Limited - Foreign currency tier 2 notes issue by
SBSA
Standard Bank Group Limited
Incorporated in the Republic of South Africa
Registration number: 1969/017128/06
JSE Share code: SBK
Namibian Share code: SNB
ISIN: ZAE000057378
The Standard Bank of South Africa Limited (SBSA) has privately placed $355
million sub-ordinated notes with US institutional investors. This is
SBSA`s inaugural foreign tier 2 capital issue. The notes are divided into
a fixed rate tranche of $230 million issued at 140bps over 5 year US
Treasuries and a floating rate tranche of $125 million issued at 88bps over
LIBOR. The notes were issued as part of the bank`s capital management
programme.
The bonds were placed by Banc of America Securities LLC and Standard New
York Inc.
Details of the bond issues are:
Fixed rate tranche:
- Closing Date: 31 July 2007
- Nominal: $230 million
- Maturity Date: 31 July 2017
- Coupon: Fixed at 6.44% until and including 31 July 2012, thereafter
floating at 3-month LIBOR plus 188bps until maturity
- Issuer`s call: 31 July 2012 or any interest payment date thereafter at
the nominal amount, subject to the prior written approval by the Registrar
of Banks
- Status: Subordinated, qualifying Tier 2 capital notes
- Law: New York
- Placement Agents: The Banc of America Securities LLC and Standard New
York Inc.
- The notes are not listed
Floating rate tranche
- Closing Date: 31 July 2007
- Nominal: $125 million
- Maturity Date: 31 July 2017
- Coupon: Floating at 3-month LIBOR rate plus 88bps until and including 31
July 2012, thereafter floating at 3-month LIBOR plus 188bps until maturity
- Issuer`s call: 31 July 2012 or any interest payment date thereafter at
the nominal amount, subject to the prior written approval by the Registrar
of Banks
- Status: Subordinated, qualifying Tier 2 capital notes
- Law: New York
- Placement Agents: The Banc of America Securities LLC and Standard New
York Inc
- The notes are not listed
For further information please contact:
Norbert Hoffmann, Director, Group Capital Management, Tel: +27 11 636 3712;
E-mail: norbert.hoffmann@standardbank.co.za
Simon Ridley, Chief Financial Officer, Tel: +27 11 636 3756; E-mail:
simon.ridley@standardbank.co.za
01 August 2007
Sponsor
Standard Bank
Date: 01/08/2007 10:43:00 Produced by the JSE SENS Department.
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