ABL/ ABLP - African Bank to issue R1 billion of senior unsecured bonds
ABL ABLP
ABL
ABL/ ABLP - African Bank to issue R1 billion of senior unsecured 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 TO ISSUE R1 BILLION OF SENIOR UNSECURED BONDS
African Bank Limited (a wholly-owned subsidiary of ABIL) ("African Bank") has
agreed to issue R1 billion of four year senior unsecured bonds, the details of
which are as follows:
- A R525 million, 9.50% fixed rate senior unsecured bond with a redemption date
of 29 September 2014 (ABL11A). This bond was issued at a credit spread of 230
bps above the benchmark R201.
- A R475 million, floating rate senior unsecured bond with a redemption date of
29 September 2014 (ABL11B). This bond was issued at a credit spread of 250 bps
above 3 month JIBAR.
In aggregate, the issue was 63% oversubscribed.
The bonds will be listed on the Bond Market of the JSE Limited on 29 September
2010. This is the 19th and 20th issuance of bonds under African Bank`s R15
billion domestic medium term note programme.
For further information please contact Steven Kahanovitz on 011 564 6709 or
Gavin Jones on 011 564 6868.
Midrand
28 September 2010
Lead arranger and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal advisers to the issuer
PRINSLOO, TINDLE & ANDROPOULOS INC
Date: 28/09/2010 07:05:16 Produced by the JSE SENS Department.
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