ABSA - Notice of intention to redeem ZAR 1,250,000
ABSA - Notice of intention to redeem ZAR 1,250,000,000 subordinated callable
notes issued by ABSA Bank Limited
ABSA GROUP LIMITED
(`Absa`)
Registration number: 1986/003934/06
Share code: ASA
ISIN Code: ZAE000013389
Issuer code: AMAGB
Absa Bank obtained approval from the Registrar of Banks during 2000 for the
issuance of an aggregate amount of R1 250 million subordinated callable notes
which ranks as qualifying secondary capital for Absa Bank. Pursuant to the
approval, on 17 February 2000 and 8 August 2000, Absa Bank issued the AB01 Notes
amounting to R750 million and R500 million respectively, subject to the terms
and conditions contained in the offering circular dated 25 February 2000 (the
`Offering Circular`).
Selected terms and conditions of the AB01 Notes
- Term: 10 years
- Maturity Date: 1 March 2010
- Call Option: At Absa Bank`s discretion and with the prior written approval of
the Registrar of Banks, the AB01 Notes may be redeemed on 1 March 2005. The AB01
Notes will be redeemed at par.
Pursuant to Condition 4 of the terms and conditions of the AB01 Notes contained
in the Offering Circular and having obtained the written approval from the
Registrar of Banks, Absa Bank hereby gives notice that it will redeem the R1 250
million AB01 Notes on 1 March 2005.
The following people may be contacted at Absa Bank in respect of the redemption
of the AB01 Notes:
Bertus Korb - Absa Group Finance, Tel No: 011 350 6912 or Jacques Els - Absa
Capital and Debt Markets, Tel No: 011 350 2627.
Issued by Willie Roux
Absa Group Investor Relations
Tel: 27 11 350-4061
willier@absa.co.za
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