By Christine Van Dusen
Atlanta, Sept. 30 - South Africa's African Bank Ltd. priced CHF 105 million four-year notes (Baa3) at par to yield 5½%, a market source said.
Credit Suisse and UBS were the bookrunners for the deal.
The bank recently 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.
African Bank is a Johannesburg-based lender.
| Issuer: | African Bank Ltd.
|
| Amount: | CHF 105 million
|
| Maturity: | Oct. 11, 2017
|
| Description: | Senior notes
|
| Bookrunners: | Credit Suisse, UBS
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Trade date: | Sept. 27
|
| Settlement date: | Oct. 11
|
| Rating: | Moody's: Baa3
|
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