Chicago, Oct. 7 – South Africa’s Liberty Group Ltd. sold ZAR 1.5 billion floating-rate subordinated debentures due Sept. 9, 2026 at par (zaA+), according to a listing announcement on the Johannesburg Stock Exchange.
The notes bear a floating-rate at three-month Jibar plus 250 basis points. The initial rate for the notes is 5.942%.
Standard Bank of South Africa Ltd. sponsored the debt.
Proceeds were slated for general corporate purposes, according to S&P Global Ratings.
Based in Johannesburg, the issuer provides asset management, investment, insurance and health products to 18 African countries.
| Issuer: | Liberty Group Ltd.
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| Issue: | Deferrable subordinated debentures
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| Amount: | ZAR 1.5 billion
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| Maturity: | Sept. 9, 2026
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| Sponsor: | Standard Bank of South Africa Ltd.
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| Coupon: | Jibar plus 250 bps, equivalent initially to 5.942%
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| Price: | Par
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| Issue date: | Sept. 9
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| Rating: | S&P: zaA+
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