ABL/ABLP - ABIL - ABIL Issues R300 Million Tier Ii
ABL ABLP
ABL
ABL/ABLP - ABIL - ABIL Issues R300 Million Tier Ii Capital Bond
AFRICAN BANK INVESTMENTS LIMITED
(Registration Number 1946/021193/06)
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
Ordinary Share Code: ABL & ISIN: ZAE000030060
Preference Share Code: ABLP & ISIN: ZAE000065215
("ABIL" or "the Company")
ABIL ISSUES R300 MILLION TIER II CAPITAL BOND
African Bank Limited ("African Bank"), a wholly-owned subsidiary of ABIL has
issued a R300 million, floating rate subordinated unsecured capital note
("ABLS1 bond") through its existing Domestic Medium-term Note(DMTN) programme.
The ABLS1 bond, which will qualify as regulatory Tier II capital, has a 10-
year maturity and is callable by the issuer after 5 years, subject to approval
by the Registrar of Banks. The ABLS1 bond to be issued on 8 August 2007, will
carry a coupon of 3-month JIBAR plus 160 basis points, payable quarterly in
arrears, and will step up to 3-month JIBAR plus 360 basis points if not called
after the initial 5-year period ("the Transaction").
The Transaction was initiated by Investec Asset Management, who was also the
sole subscriber in the private placement of the bonds. The bonds have been
issued in terms of African Bank`s long-term capital management programme in
order to optimise the weighted average cost of capital of the group.
This issue is the 7th successful issue of bonds under African Bank`s DMTN
programme, for which Nedbank Capital is the Lead Manager and Arranger, since
it was created in 2001.
For further information please contact David Woollam on 011 256 9234.
Midrand
7 August 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 07/08/2007 14:07:09 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
