| Mon 27 Aug 2007, 12:39 | | NED - Nedbank Group - Nedbank Tier II bond issue |
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NED
NED
NED - Nedbank Group - Nedbank Tier II bond issue
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
("Nedbank Group")
TIER II BOND ISSUE
Nedbank Limited, a wholly-owned subsidiary of Nedbank Group, has mandated
Nedbank Capital to undertake, together with Citigroup as manager and dealer, a
Tier II capital bond issue (NED11) with a target issue size of up to R1,5
billion. A roadshow to present the fundamentals and key features of the proposed
bond issue commences today.
The bond, which will qualify as regulatory Tier II capital, will be issued as
part of Nedbank`s long-term capital management programme, which aims to balance
the levels of debt and equity in regulatory capital, ensure an appropriate
maturity profile for debt capital and support organic balance sheet growth.
Application will be made to list the bonds on the Bond Exchange of South Africa
(BESA).
For further information please contact:
Mike Brown (Chief Financial Officer),
tel: +27 (0)11 294 9999, email: mikeb@nedbank.co.za
Markus Borner (Nedbank Group Capital Management),
tel: +27 (0)11 295 8616, email: markusb@nedbank.co.za
Sandton
27 August 2007
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Date: 27/08/2007 12:39:01 Produced by the JSE SENS Department.
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