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South Africa’s African Bank buys $71.92 million of two note series
New York, Sept. 14 – African Bank Ltd. repurchased a total of $71.92 million from two series of its outstanding notes.
The issuer bought $46 million, or 16.4%, of its 8 1/8% notes due October 2020, leaving 44.8% of the original $280 million outstanding.
It also purchased $25.92 million, or 9.3%, of its 6% notes due February 2020, leaving 43.7% of the initial $280 million remaining.
The bank previously announced on Sept. 6 that it repurchased $76,687,200, or 27.4%, of the 8 1/8% notes and $57,348,800, or 20.5%, of the 6% notes.
African Bank is a Johannesburg-based lender.
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