AFRICAN PHOENIX INVESTMENTS LIMITED 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")
Impact of repurchase of additional USD notes issued under African Bank's USD6 billion EMTN ProgramAfrican Bank hereby announces that it has repurchased certain USD denominated notes ("Notes" or "the Notes") issued under its USD6 billion Euro Medium Term Note Program ("EMTN") which, together with certain previous repurchases, including the Tender Offer announced on the JSE Limited News Service on 14 July 2016 via ("Impact of Tender Offer in respect of notes issued under African Bank's US$6 billion Euro Medium Term Note Program") and 5 September 2016 ("Impact of repurchase of notes issued under African Bank's USD6 billion EMTN Program"), results in the following aggregate principal amount of its EMTN Notes remaining outstanding after the 14 September 2016 settlement date:
USD 274 million in respect of USD denominated Notes; and
CHF 157 million in respect of CHF denominated Notes.
The total nominal amount of Notes acquired by the Bank in terms of this announcement (excluding any payment made in respect of interest accrued thereon and as further set out in the table below) was USD 72 million.
Further details of the aggregate principal amount of Notes repurchased in each of the USD denominated series and the Notes remaining outstanding in respect of all outstanding Series after the settlement date for these USD Note repurchases are contained in the table below. All amounts in USD and CHF of each series of bonds in the table below, as applicable, are expressed in millions and percentages refer to the original nominal amounts of each series of bonds.
Repurchased as per previous announcement | Repurchases as per this announcement | Remaining Principal Amount Outstanding(1) | |||||
Series | ISIN | Principal Amount (m) | Percent | Principal Amount (m) | Percent | Principal Amount (m) | Percent |
USD 280m 8.125% Notes due Oct 2020 | XS1390060546 | 108.5 | 38.7% | 46.0 | 16.4% | 125.5 | 44.8% |
USD 280m 6% Notes due Feb 2020 | XS1390059969 | 131.7 | 47.0% | 25.9 | 9.3% | 122.4 | 43.7% |
USD 25.6m 2.4% Notes due Nov 2018 | XS1390059969 | 0 | 0.0% | 0.0 | 0.0% | 25.6 | 100.0% |
CHF 140m 5% Notes due Apr 2022 | CH0310140600 | 105.3 | 75.2% | 0.0 | 0.0% | 34.7 | 24.8% |
CHF 84m 5.5% Notes due Jun 2021 | CH0310140584 | 49.6 | 59.1% | 0.0 | 0.0% | 34.4 | 40.9% |
CHF100m 4% Notes due Jul 2020 | CH0310140568 | 54.3 | 54.3% | 0.0 | 0.0% | 45.7 | 45.7% |
CHF 120m 4.75% Notes due March 2022 | CH0310140543 | 78.2 | 65.1% | 0.0 | 0.0% | 41.8 | 34.9% |
(1) Excluding any Notes beneficially held by, or behalf of, the Bank or any of its subsidiaries.
A separate announcement has been released on the news service operated by the London Stock Exchange ("LSE") in respect of the USD bonds repurchased, as listed on that exchange.
Midrand
14 September 2016
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
African Bank Investments Ltd. published this content on 14 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 September 2016 15:00:02 UTC.
Original documenthttps://africanbank.azureedge.net/2016-09-14_African_Bank_EMTN_Bond_buyback.pdf
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