SBK: Standard Bank Group Limited - Tier III Bond issue by SBSA
Standard Bank Group Limited
Incorporated in the Republic of South Africa
Registration number: 1969/017128/06
JSE Share code: SBK
Namibian Share code: SNB
ISIN: ZAE000057378
Tier III Bond issue by SBSA
The Standard Bank of South Africa (`SBSA`) has today placed a R600 million
subordinated bond due in March 2007. The bond (SBK6) qualifies as regulatory
Tier III capital and was issued following the redemption of SBSA`s previous Tier
III capital bond (SBK4), which was redeemed on 15 February 2004. The issue was
placed through a formal Dutch auction process.
The bond was launched at a spread of 35bps over the benchmark R194 bond to yield
a fixed semi-annual coupon of 7.70%. This is equivalent to a spread of 37bps
over 3 month JIBAR based on current swap rates.
The bond was placed by Standard Bank Corporate and Investment Banking.
The issue will be listed on the Bond Exchange of South Africa. Details of the
issue and salient allocation statistics are:
- Launch date: 22 February 2005
- Settlement date: 28 February 2005
- Bond Exchange code: SBK6
- Nominal: R600 million
- Maturity date: 01 March 2007
- Coupon: payable semi-annually, fixed at 7.70%
- Status: Subordinated, qualifying Tier III capital issue
- Law: South African
- Denominations: R1 million
- Placement agent: Standard Bank of South Africa Limited
- Total value of bids received: R1.07 billion
- Total number of bids received: 32
- Total amount allocated: R600 million
- Total number of bids allocated in full: 17
- Total number of bids receiving partial allocations: 2
- Partial allocation percentage: 94%
Johannesburg
22 February 2005
Sponsor
Standard Bank
For further information, please contact:
Simon Ridley (Chief Financial Officer) tel 011 636 3756; e-mail:
simon.ridley@standardbank.co.za
Norbert Hoffmann (Director: Group Capital Management) tel 011 636 3712; e-mail:
norbert.hoffmann@standardbank.co.za
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
