ABL/ABLP - African Bank Investments - Issues R1 Billion Tier Ii Capital Bonds
ABL ABLP
ABL
ABL/ABLP - African Bank Investments - Issues R1 Billion, Tier Ii Capital Bonds
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
("ABIL")
AFRICAN BANK ISSUES R1 BILLION, TIER II CAPITAL BONDS
African Bank Limited (a wholly-owned subsidiary of ABIL) has issued R1 billion
of seven year subordinated unsecured tier II qualifying bonds, details of which
are as follows:
- A R520 million, fixed rate subordinated unsecured capital note with a
coupon of 15.5% per annum, paid semi-annually and with a redemption date
of 13 July 2016 (ABLS2A). This bond was issued at a credit spread of 625bps
above the government benchmark R203 bond.
- A R480 million, floating rate subordinated unsecured capital note with a
redemption date of 13 July 2016 (ABLS2B). This bond was issued at a credit
spread of 630bps above the 3 months JIBAR.
The bonds will be listed on the Bond Exchange of South Africa (BESA) on 13 July
2009. This issue is the 13th tranche of bonds issued under the R10 billion
domestic medium term note programme.
For further information please contact David Woollam (Managing Director) on 011
256 9234 or Nga Kugotsi (African Bank Treasurer) on 011 256 9242.
Midrand
13 July 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 13/07/2009 11:05:22 Produced by the JSE SENS Department.
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