African Bank Ltd Repurchase of bonds (0054H)
20 March 2020 - 9:58PM
UK Regulatory
TIDM31HB
RNS Number : 0054H
African Bank Ltd
20 March 2020
AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
Company code: ABKI
("the Bank" or "African Bank")
Repurchase of USD notes issued under African Bank's USD6 billion
EMTN Program - ISIN: XS1390060546
African Bank hereby announces that it has repurchased part of
its USD notes which were issued under its USD6 billion Euro Medium
Term Note Program ("EMTN program").
In terms of the Bank's EMTN program, a market notice is required
when a repurchase exceeds 10% of the nominal value of that
particular bond.
African Bank's only remaining USD bond in issue is the 8.125%
note, ISIN number XS1390060546 which matures in October 2020. The
total nominal amount of this note repurchased by the Bank was USD20
million. The purchase took place by means of several tranches
acquired and settled between the 17(th) and 19(th) March 2020.
The net outstanding nominal value of the USD 8.125% bond, prior
to the repurchase, was USD125 557 600 and subsequent to the
repurchase is USD105 557 600, amounting to a 16% reduction in this
bond's free float.
Midrand - South Africa
20 March 2020
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END
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