Standard Bank Group Limited - Tier II 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 II Bond Issue By SBSA
The Standard Bank of South Africa Limited (SBSA) today placed a R3 billion
subordinated bond due in May 2020 and callable in May 2015. The issue, which
was well supported, qualifies as regulatory Tier II capital and serves to
maintain SBSA`s level of capital adequacy at prudent levels in view of current
growth in assets and the expected redemption of R2.7 billion of Tier II capital
during 2005.
The new bond (SBK7) was launched at a spread of 110bps over the benchmark R157
bond to yield a fixed semi-annual interest coupon of 9.63%.
The bond was placed by Standard Bank acting through its Corporate and Investment
Banking Division and Deutsche Bank AG, Johannesburg Branch.
The issue will be listed on the Bond Exchange of South Africa. Details of the
bond issue are:
* Launch Date: 17 May 2005
* Settlement Date: 24 May 2005
* Bond Exchange Code: SBK7
* Nominal: R3 billion
* Maturity Date: 24 May 2020
* Coupon: Fixed at 9.63% until 24 March 2015, thereafter floating at 3-month
JIBAR plus 197bps until maturity
* Issuer`s call: 24 May 2015 or any interest payment date thereafter at the
nominal amount. Issuer calls on Tier II bonds are subject to prior written
approval by the Registrar of Banks
* Status: Subordinated, qualifying Tier II capital issue
* Law: South African
* Denominations: R1 million
* Placement Agents: Standard Bank of South Africa Limited acting through its
Corporate and Investment Banking Division and Deutsche Bank AG,
Johannesburg Branch
* Underwriter: Deutsche Bank AG, Johannesburg Branch
For further information please contact:
Norbert Hoffmann, Director, Group Capital Management, Tel: 011 636 3712; E-mail:
norbert.hoffmann@standardbank.co.za
Simon Ridley, Chief Financial Officer, Tel: 011 636 3756; E-mail:
simon.ridley@standardbank.co.za
Date: 17/05/2005 02:10:06 PM
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