Republic of South Africa Floating-Rate Note Auction Announcement
Republic of South Africa Floating-Rate Note Auction Announcement
Department of National Treasury
REPUBLIC OF SOUTH AFRICA
Private Bag X115, Pretoria, 0001. Tel: (+27 12) 315 5944. Fax: (+27 12) 407 9055
SENS ANNOUNCEMENT FLOATING-RATE NOTE AUCTION ANNOUNCEMENT
Additional information on the floating-rate note auction announced on 29 June 2022
included within this SENS announcement.
The primary issuance of this instrument will take place via an auction on 6 July 2022. This
FRN auction can be accessed by the market via the Primary Dealers.
Specifics of the auction/instrument are:
• Auction date: 2022/07/06.
• Auction time: 12:00-13:00.
• Auction results: Released around 14:00 on Bloomberg, Reuters and the SARB
website.
• Auction method: Dutch auction (uniform price).
• Bid type for auction: Margin over 3-month Jibar.
• Settlement: 2022/07/11.
• Maturity: 2027/07/11.
• Coupon dates being: 11 October, 11 January, 11 April and 11 July in each year up
to and including the Maturity Date (11 July 2027), subject to adjustment in
accordance with the Business Day Convention.
• Issuer: Republic of South Africa.
• Programme size: up to R80 billion.
• Par amount: R1 million.
• Amount on offer at auction: The initial floating-rate note auction will be conducted
as an open tender without a pre-announced auction amount.
• Coupon frequency: Quarterly.
• Coupon rate: TBD (ie 3-month JIBAR + a margin, both TBD on day of auction).
• Day count: ACT/365.
• Business day convention: Following Business Day
• Closing period: 10 days.
• Instrument code: RN2027
• ISIN code: ZAG000187949
• Bloomberg identifier: SAFLGB Float 07/11/27 Corp
As mentioned in the previous SENS announcement: the floating-rate note will be available
as collateral for repo transactions; the frequency of floating-rate note auctions will be
announced a day after the initial auction through an auction calendar that will be uploaded
on the National Treasury investor relations website; further details will be available in the
2
Applicable Pricing Supplement; and in the event that the reference rate changes during
the life of the instrument, the National Treasury reserves the right to change the reference
rate from the 3-month Jibar to the new prevailing reference rate.
Terry Bomela-Msomi
Director: Debt Issuance and Management
012 315 5136 / +27 66 289 2492
Date: 05 July 2022
Date: 05-07-2022 02:35:00
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