GRF - Group Five - Group Five Bond issues under th
GRF
GRF
GRF - Group Five - Group Five Bond issues under the BESA Listed DMTN Programme
Group Five Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/000032/06)
Share code: GRF & ISIN: ZAE000027405
("Group Five")
GROUP FIVE BOND ISSUES UNDER THE BESA LISTED DMTN PROGRAMME
Nedbank Capital, a division of Nedbank Limited ("Nedbank Capital") is authorised
to announce that Group Five, through its major wholly owned subsidiary Group
Five Construction (Proprietary) Limited, has successfully issued two senior
unsecured bonds totalling R850 million:
GFC1: R300 million three year 9.05% fixed rate notes (2.64 times oversubscribed)
GFC2: R550 million five year 9.2% fixed rate notes (1.13 times oversubscribed)
The bonds have been issued under the Bond Exchange South Africa ("BESA") listed
R1 billion Domestic Medium Term Note Programme ("DMTN Programme"). The DMTN
Programme is guaranteed by Group Five. The DMTN programme will broaden Group
Five`s ability to access capital via the South African debt capital markets.
These issues were placed with a change of control clause in the applicable
pricing supplements. Change of control clauses are a new development in the
South African corporate bond market and are seeing a wider adoption, as they
provide protection to bond investors against leveraged buyout risk.
Global Credit Ratings accorded Group Five a long-term credit rating of A (Single
A) and a short-term rating of A1 (Single A one). The rating agency`s outlook on
Group Five is stable.
For any queries please contact -
Nedbank Capital: +27 (0) 11 535-4027
Paul O`Flaherty (Group Five CFO): +27 (0) 11 806-0111
Sandton
27 February 2007
Investment Bank and Sponsor
Nedbank Capital, a division of Nedbank Limited -
Legal Adviser
Deneys Reitz Incorporated
Date: 27/02/2007 17:00:06 Produced by the JSE SENS Department.
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