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NED
NED
Nedbank Group - Nedbank Tier II Bond Issue
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
ISIN: ZAE000004875
("Nedbank Group")
TIER II BOND ISSUE
Nedbank Limited ("Nedbank"), a wholly-owned subsidiary of Nedbank Group, has
issued a Bond Exchange of South Africa ("BESA") listed subordinated unsecured
bond of R1,5 billion, callable on 20 September 2013. The bond, which qualifies
as regulatory Tier II capital, was issued to finance a portion of the redemption
of the NED1 R2,0 billion BESA listed issue, which Nedbank will call on the
scheduled call date of 20 September 2006, as approved by the Registrar of Banks.
This issue is part of the bank"s long-term capital management programme, which
seeks to achieve an optimal and prudent capital structure.
The bond was placed by Nedbank Capital as Sole Bookrunner. Citigroup is
appointed as a Manager and Dealer on the NED6 issue.
Details of the bond issue are:
Launch date: 15 September 2006
Settlement date: 20 September 2006
Bond Exchange code: NED6
Nominal: R1,5 billion
Maturity date: 20 September 2018
Coupon: Fixed at 9,84% until
20 September 2013, thereafter
floating at 3-month JIBAR plus
205 bps until maturity
Call date: 20 September 2013 or any
interest payment date
thereafter, at the nominal
amount, subject to prior written
approval by the Registrar of
Banks
Status: Subordinated, qualifying Tier II
capital issue
Law: South African
Denominations: R1 million
Lead Manager and Dealer: Nedbank Capital
Manager and Dealer: Citigroup
For further information please contact:
Mike Brown (Chief Financial Officer),
tel: (011) 294 9999, email: mikeb@nedbank.co.za
Trevor Adams (Head of Group Capital Management & Basel II),
tel: (011) 294 1141; email: trevor.adams@nedbank.co.za
Markus Borner (Nedbank Group Capital Management),
tel: (011) 295 8616, email: markusb@nedbank.co.za
Sandton
15 September 2006
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Date: 15/09/2006 04:07:02 PM Produced by the JSE SENS Department
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