ABL/ABLP - African Bank Investments Limited - African Bank Issues R550 Million
ABL ABLP
ABL
ABL/ABLP - African Bank Investments Limited - African Bank Issues R550 Million,
Senior Unsecured 3-Year Floating Rate Bond (ABL9)
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Ordinary share code: ABL ISIN: ZAE000030060
Preference share code: ABLP ISIN: ZAE000065215
AFRICAN BANK ISSUES R550 MILLION, SENIOR UNSECURED 3-YEAR FLOATING RATE BOND
(ABL9)
African Bank Limited, a wholly-owned subsidiary of African Bank Investments
Limited, has issued a R550 million senior unsecured floating rate bond with a
redemption date of 19 February 2012 and priced at a credit spread of 330bps
above 3 month JIBAR. In line with its existing risk management strategy, African
Bank has hedged this floating rate exposure via an interest rate swap, resulting
in an effective 11.4% fixed rate. The bond is the 10th tranche of senior
unsecured bonds under the R10 billion domestic medium term note programme.
The bond will be listed on the Bond Exchange of South Africa (BESA) on 19
February 2009. The issue was arranged and led by Nedbank Capital, a division of
Nedbank Limited.
For further information please contact David Woollam on 011 256 9234 or Nga
Kugotsi on 011 256 9242.
Midrand
17 February 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17/02/2009 09:56:01 Produced by the JSE SENS Department.
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