PIK - Pick n Pay Stores Limited - lists a Domestic Medium Term Note Programme
PIK
PIK
PIK - Pick n Pay Stores Limited - lists a Domestic Medium Term Note Programme
on the Interest Rate Market of the Johannesburg Securities Exchange
Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK ISIN code: ZAE000005443
Pick n Pay Stores Limited lists a Domestic Medium Term Note Programme on the
Interest Rate Market of the Johannesburg Securities Exchange ("the JSE")
Pick n Pay Stores Limited ("Pick n Pay") is pleased to announce that it has
listed a Domestic Medium Term Note programme (the "DMTN programme") on the
JSE and has successfully raised an initial R500 million under the DMTN
programme. The notes issued mature in 3 months from the date of issue and
bear interest at the 3 month Johannesburg Inter-bank acceptance Rate plus a
margin of 0.24%.
The DMTN Programme will enable Pick n Pay to access short and long term
funding, diversify its funding sources, enhance its liquidity position and
provide funding flexibility. The DMTN will be utilised to fund its capital
expansion expenditure and working capital as required. A maximum aggregate
amount that can be in issue under the programme is limited to R2 billion.
Investec Bank Limited is the Sole Arranger and Sponsor on the programme and
joint Dealer with ABSA Capital.
Details of the notes are:
- Bond Code : PnP01
- Settlement Date : 18 March 2011
- Principal Amount : R500 million
- Maturity Date : 17 June 2011
- Listing : JSE (Interest Rate Market)
- Fixed Interest Rate : 5.815%
- Issue Spread : 24 bps over 3 month Jibar
For further information please contact:
Pick n Pay: Mr Bakar Jakoet (+2721) 658 1000
Investec Bank Limited: Mr Rick Lupini (+2721) 416 3301
Ms Jeanine Polley (+2711) 286-4824
By order of the board
Cape Town
18 March 2011
Sponsor:
Investec Bank Limited
Date: 18/03/2011 12:37:33 Produced by the JSE SENS Department.
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