By Toni Weeks
San Luis Obispo, Calif., Sept. 20 - African Bank Ltd. issued two senior unsecured bonds totaling ZAR 1 billion under its ZAR 25 billion domestic medium-term note program, which is designated for general funding purposes, according to a filing with the London Stock Exchange.
The bank issued ZAR 510 million of series ABL 18 unsecured floating-rate bonds due 2015. The bonds bear interest at three-month Jibar plus 285 basis points. Interest is payable quarterly.
The bank also issued ZAR 490 million of series ABL 19 unsecured floating-rate bonds due 2018. The bond bears interest at three-month Jibar plus 400 bps. Interest is payable quarterly.
Rand Merchant Bank is the debt sponsor and a joint arranger and joint bookrunner along with ABSA Corporate and Investment Bank.
African Bank is a Johannesburg-based lender.
| Issuer: | African Bank Ltd.
|
| Issue: | Series ABL18 and series ABL 19 senior unsecured floating-rate bonds
|
| Amount: | ZAR 1 billion
|
| Sponsor: | Rand Merchant Bank
|
| Joint bookrunners/arrangers: | Rand Merchant Bank and ABSA Corporate and Investment Bank
|
| Settlement date: | Sept. 20
|
|
|
| Series ABL 18
|
| Amount: | ZAR 510 million
|
| Maturity: | Sept. 25, 2015
|
| Coupon: | Jibar plus 285 bps, payable quarterly
|
|
|
| Series ABL 19
|
| Amount: | ZAR 490 million
|
| Maturity: | Sept. 25, 2018
|
| Coupon: | Jibar plus 400 bps, payable quarterly
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
