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African Bank issues second tranche of CHF125 million senior unsecured bonds

November 9, 2012
As reported in a notice on the London Stock Exchange, African Bank (a wholly-owned subsidiary of ABIL) has issued the second, fixed rate senior unsecured Swiss bond of CHF125 million, equivalent to ZAR1.164 billion, with a term of four years. The bond will be listed on the SIX Swiss Exchange under African Bank's existing USD2 billion Euro Medium Term Note (EMTN) Programme. The bond, ISIN CH0199541308, due 09 November 2016, has an annual coupon rate of 4.00%. The coupon payment dates for the notes will fall annually on 09 November.

This latest issue follows shortly after the inaugural Swiss Franc issue in July 2012, demonstrating the keen interest in African Bank credit from Swiss investors after the original Swiss issue had performed well in the secondary markets.

African Bank has executed a CHF/ZAR cross currency hedge, swapping all Swiss Franc coupon and principal flows into ZAR.
Company — African Bank
  • Full name
    African Bank Limited
  • Registration country
    South Africa
  • Industry