IPL
IPL
IPL - Imperial Holdings Limited - Bond Issue
Imperial Holdings Limited
Registration number: 1946/021048/06
Share code: IPL
ISIN: ZAE000067211
("Imperial")
Bond Issue
Imperial is pleased to announce that its wholly owned subsidiary, Imperial
Group (Pty) Ltd has successfully issued a 7 year corporate bond for R1.5
billion, due for settlement on Thursday 29 March 2007. The bond will be
listed on the Bond Exchange of South Africa.
The issue, which has been arranged jointly by Deutsche Bank AG and Standard
Bank of South Africa Ltd, has been priced at 125 basis points over the SA
Government`s R201 issue.
The issue, to be styled IPL4, will be governed by Imperial`s R5 billion
Domestic Medium Term Note Programme and is guaranteed by Imperial Holdings.
The proceeds of the issue will be used to repay short term debt and to
provide liquidity for the R1.2 billion redemption of the IPL2 bond in
February 2008.
Imperial has been a pioneer in the development of the corporate debt market
in South Africa with its first short term commercial paper issue being done
in 2000, which was followed by the issue of an R800 million five year bond
in 2001, a further R800 million six year bond in 2002 (extended to R1.2
billion with a tap issue in 2005), and a R1 billion seven year bond in
2003. In addition, the group issued a EUR300 million 7 year Eurobond in
2006. Another group company, Imperial Capital Ltd, issued a R1 billion 5
year bond in 2005 and also issues commercial paper on a regular basis.
This issue supports the group`s complete funding strategy for its
substantial asset owning leasing, logistics and car rental activities and
provides liquidity for the future growth of these activities at competitive
funding rates.
26 March 2007
Bedfordview
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 26/03/2007 17:45:01 Produced by the JSE SENS Department.
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