National Treasury’s auction levels announcement post the MTBPS 2025
National Treasury’s auction levels announcement post the MTBPS 2025
REPUBLIC OF SOUTH AFRICA
Department of National Treasury
Issuer code: BIRSA
("National Treasury")
NATIONAL TREASURY'S AUCTION LEVELS ANNOUNCEMENT POST THE MEDIUM- TERM BUDGET POLICY STATEMENT (MTBPS) 2025
The National Treasury would like to advise of the following updates to the bond auction levels,
effective 12 November 2025:
• the competitive fixed-rate bond amount will decrease by R750 million to R3 billion;
• the inflation-linked bond amount will remain unchanged at R1 billion; and
• the non-competitive fixed-rate bond amount will remain unchanged at 75 percent of the
amount offered, which will be split in the following manner:
o 45 percent on the electronic trading platform (ETP); and
o 30 percent on the primary auction.
The floating-rate note and switch auctions continue to form part of the National Treasury's funding
strategy, and will be conducted in line with the auction calendars published on the investor relations
website.
For further enquiries contact:
Wanga Cibi
Chief Director: Liability Management
012 315 5274 / +27 63 698 7846
Pretoria
12 November 2025
Debt Sponsor
One Capital
Date: 12-11-2025 02:00:00
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