By Susanna Moon
Chicago, June 20 - African Bank, a wholly owned subsidiary of African Bank Investments Ltd., issued ZAR 1 billion of three-year senior bonds at Jibar plus 275 basis points.
The bonds were issued under the bank's domestic medium-term note program. The issue is part of African Bank's domestic medium-term note program designated for general funding purposes, according to a press release.
Rand Merchant Bank, a division of FirstRand Bank Ltd., was the sponsor.
ABSA Corporate and Investment Bank, a division of ABSA Bank Ltd., was the arranger and bookrunner.
African Bank is a Johannesburg-based lender.
| Issuer: | African Bank Ltd.
|
| Issue: | Senior bonds
|
| Amount: | ZAR 1 billion
|
| Maturity: | June 21, 2016
|
| Coupon: | Jibar plus 275 bps
|
| Bookrunner: | ABSA Corporate and Investment Bank
|
| Sponsor: | Rand Merchant Bank
|
| Settlement date: | June 20
|
© 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.
