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ABSA raises R1,5 billion under new bond programme
Absa Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/003934/06)
(JSE Code: ASA)(Issuer Code: AMAGB)
(ISIN : ZAE 000013389)
("Absa")
Absa raises R1,5 billion under new bond programme
Absa Bank Limited has successfully launched a R2 billion BESA-listed Domestic
Medium Term Note programme (DMTN programme) and raised an initial R1,5 billion
in two tranches both of which have a maturity of 11 years.
Absa initially intended to raise approximately R1 billion, but healthy bid
volumes saw the amount increased.
Absa Corporate and Merchant Bank was sole lead manager and sponsoring member for
the issue, while African Harvest Capital (Pty) Ltd acted as co-arranger.
Details of the bond issues are:
ABO3
- Settlement Date : 26 March 2004
- Principal Amount : ZAR1,1 billion
- Maturity Date : 26 March 2015
- Coupon : 10,75%
- Coupon Dates : 26 March and 26 September
- Books Close Date : 16 March and 16 September
- Re-offer yield : 10,78% all-in
- Re-offer price : 99,86993
- Listing : Bond Exchange of South Africa
- Bond Code : ABO3
- Issue Spread : 140 bps over R153
- Call date : 26 March 2010
- Step-up if not call : 295 bps
ABO4
- Settlement Date : 26 March 2004
- Principal Amount : ZAR400 million
- Maturity Date : 26 March 2015
- Coupon : JIBAR and 0,75%
- Coupon Dates : 26 March, 26 June, 26 September, 26 December
- Books Close Date : 16 March, 16 June, 16 September and 16 December
- Listing : Bond Exchange of South Africa
- Bond Code : ABO4
- Issue Spread : 75 bps over JIBAR
- Call date : 26 March 2010
- Step-up if not call : 295 bps
Frans du Toit, Absa Group Executive Director responsible for Finance, says "We
believe it is an opportune time for Absa to capitalise on the present low
interest rate environment. The new DMTN programme will replace all maturing bond
issues over the next twelve months and will enable the bank to issue new
tranches, both to accommodate future redemptions and tap the market regularly as
the need arises."
Ends
Issued by:
Nick Cairns
Group Consultant
Absa Group Communications and Public Affairs
Tel: (011) 350 6565
Cell: 082 453 2070
E-mail: nickca@absa.co.za
For more information, please contact:
Frans du Toit
Absa Group Executive Director
Tel: (011) 350 4211
Jacques Schindehutte
Absa Group Executive: Finance
Tel: (011) 350 4850
Johannesburg
24 March 2004
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 24/03/2004 03:21:49 PM Produced by the JSE SENS Department
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