African Bank Limited Domestic Medium Term Note Pro
ABIL - African Bank Limited Domestic Medium Term Note Programme
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
(Share code: ABL)
(ISIN : ZAE000030060)
(`ABIL`)
AFRICAN BANK LIMITED DOMESTIC MEDIUM TERM NOTE PROGRAMME
ABIL said on Wednesday that its major subsidiary, African Bank Limited, had
launched a R1 billion corporate bond with a coupon of 11.75% that will mature on
12 July 2007. The ABL3 bond was issued at a spread of 215bps above the
government benchmark R194 bond, reflecting an improvement compared to the
spreads of the previously issued ABL1 and ABL2 bonds.
The bond, arranged and led by Nedbank Capital, is the third tranche of senior
unsecured bonds issued under the R3.5 billion domestic medium term note
programme, complementing the existing R1 billion ABL1 bond due to mature in
February 2005 and the R1 billion ABL2 bond maturing in September 2006.
ABIL financial director David Woollam said that the bank targeted a R750 million
bond but raised it to the upper limit of the proposed issue to accommodate
significant demand. The bond was issued to lengthen the funding profile of the
bank in anticipation of the redemption of the ABL1 bond in early 2005.
Sandton
07 July 2004
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 07/07/2004 05:13:02 PM Produced by the JSE SENS Department
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