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NED - Nedbank Group - Nedbank Tier II bond issues
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 ISSUES
Nedbank Limited, a wholly-owned subsidiary of Nedbank Group, has mandated
Nedbank Capital to lead manage, together with Citigroup, two Tier II capital
bond issues of up to R2 billion in aggregate. The bonds, which will qualify as
regulatory Tier II capital, will be issued to finance a portion of the
redemption of the NED2 R4 billion BESA listed issue, which Nedbank intends to
call on the scheduled call date of 9 July 2007, subject to prior written
approval by the Registrar of Banks. A roadshow to present the fundamentals and
key features of the proposed bond issues commences today.
These bond issues are aimed at balancing the levels of debt and equity in
regulatory capital, as part of Nedbank`s long-term capital management programme.
Application will be made to list the bonds on the Bond Exchange of South Africa
(BESA).
For further information please contact:
Mike Brown (Chief Financial Officer),
tel: +27 (0)11 294 9999, email: mikeb@nedbank.co.za
Trevor Adams (Head of Group Capital Management & Basel II),
tel: +27 (0)11 294 1141; email: trevor.adams@nedbank.co.za
Markus Borner (Nedbank Group Capital Management),
tel: +27 (0)11 295 8616, email: markusb@nedbank.co.za
Sandton
22 January 2007
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Date: 22/01/2007 09:00:02 Produced by the JSE SENS Department.
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