NSX - MET - Metropolitan - Metropolitan Raises Deb
MET
MET
NSX - MET - Metropolitan - Metropolitan Raises Debt
METROPOLITAN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2000/031756/06
ISIN: ZAE000050456
JSE Share Code: MET
NSX Share Code: MTD
("Metropolitan")
Metropolitan raises debt
Metropolitan today announced that Metropolitan Life Limited had been successful
in raising R500m of subordinated debt with a maturity date of 15 December 2014.
The debt will be used to rationalise the group`s SA life licenses as part of its
capital management programme. The High Court of SA has already approved the
transfer of the Metropolitan Odyssey business to Metropolitan Life Limited.
The issue was oversubscribed by 1.6 times and was placed at a spread of 128
basis points to the government R201 bond curve.
International rating agency, FitchRatings, recently awarded Metropolitan Life
Limited an "Insurer Financial Strength" rating of AA-(zaf) while the issue
itself has been rated A(zaf).
Bellville
12 December 2006
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 12/12/2006 16:16:04 Produced by the JSE SENS Department.
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