Wrap Text
The Thekwini 18 Fund - 2nd Tap Issuance
The Thekwini Fund 18 (RF) Limited
(“Thekwini 18”)
New Financial Instrument Listing Announcement
Dated: 28 July 2023
Stock Codes: TH18O3, T18A13, T18A23, T18A33, TH18B3, TH18C3, TH18D3
ISIN Codes: ZAG000197294, ZAG000197161, ZAG000197302, ZAG000197336,
ZAG000197344, ZAG000197328, ZAG000197310
The JSE Limited has granted Thekwini 18 the listing of its:
- “TH18O3” Floating Rate Notes due 21 August 2024;
- “T18A13, T18A23, TH18B3, TH18C3, TH18D3” Floating Rate Notes
all due 21 August 2057 (Step up and call date 21 August 2027,
except for T18A13 which has a Step up and call date of 21
August 2025); and
- “T18A33” Fixed Rate Notes due 21 August 2057 (Step up and call
date 21 August 2027)
and issued in terms of its ZAR5,000,000,000 Asset Backed Note
Programme dated on or about 22 September 2022.
Total notes outstanding (incl. this issue) ZAR 4,007,336,808
Full Note details are as follows:
Designation of Note: Class Omega Note
Nominal Issued: ZAR 228,000,000
Coupon Rate: 85 bps over 3 month JIBAR as at 24
July 2023
Coupon Step-Up Rate: N/A
Coupon Indicator: Floating
Final Redemption Date: 21 August 2024
First Interest Payment Date: 21 November 2023
Coupon Step-Up Date: N/A
Interest Payment Dates: 21 November 2023, 21 February 2024,
21 May 2024 and 21 August 2024
Books Close: The periods 17 November to 21
November 2023, 17 February 2024 to
21 February 2024, 17 May 2024 to 21
May 2024 and 17 August 2024 to 21
August 2024
Last day to register: By 17:00 on 16 November 2023, 16
February 2024, 16 May 2024, and 16
August 2024
Interest Commencement Date: Issue Date
Settlement Date: 31 July 2023
Rating: P-1.za (sf) by Moody’s Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Designation of Note: Class A1 Note
Nominal Issued: ZAR 237,000,000
Coupon Rate: 124 bps over 3 month JIBAR as at 24
July 2023
Coupon Step-Up Rate: 161 bps over 3 month JIBAR
Coupon Indicator: Floating
Final Redemption Date: 21 August 2057
First Interest Payment Date: 21 November 2023
Coupon Step-Up Date: 21 August 2025
Interest Payment Dates: 21 February, 21 May, 21 August and
21 November of each year
Books Close: 17 February to 21 February, 17 May
to 21 May, 17 August to 21 August
and 17 November to 21 November of
each calendar year
Last day to register: By 17:00 on 16 November, 16
February, 16 May, 16 August of each
year.
Interest Commencement Date: Issue Date
Settlement Date: 31 July 2023
Rating: Aaa.za (sf) by Moody’s Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Designation of Note: Class A2 Note
Nominal Issued: ZAR 325,000,000
Coupon Rate: 145 bps over 3 month JIBAR as at 24
July 2023
Coupon Step-Up Rate: 189 bps over 3 month JIBAR
Coupon Indicator: Floating
Final Redemption Date: 21 August 2057
First Interest Payment Date: 21 November 2023
Coupon Step-Up Date: 21 August 2027
Interest Payment Dates: 21 February, 21 May, 21 August and
21 November of each year
Books Close: 17 February to 21 February, 17 May
to 21 May, 17 August to 21 August
and 17 November to 21 November of
each calendar year
Last day to register: By 17:00 on 16 November, 16
February, 16 May, 16 August of each
year.
Interest Commencement Date: Issue Date
Settlement Date: 31 July 2023
Rating: Aaa.za (sf) by Moody’s Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Designation of Note: Class A3 Note
Nominal Issued: ZAR 100,000,000
Coupon Rate: 9.615% per annum
Coupon Step-Up Rate: 189 bps over 3 month JIBAR
Coupon Indicator: Fixed until Coupon Step-up Date then
Floating thereafter
Final Redemption Date: 21 August 2057
First Interest Payment Date: 21 February 2024
Coupon Step-Up Date: 21 August 2027
Interest Payment Dates: 21 February and 21 August of each
year until Coupon Step-up Date and
then 21 February, 21 May, 21 August
and 21 November of each year
Books Close: 17 February and 17 August of each
year until Coupon Step-up Date and
then 17 February, 17 May, 17 August
and 17 November of each year
Last day to register: By 17:00 on 16 February and 16
August of each year until Coupon
Step-up Date and then 16 February,
16 May, 16 August and 16 November of
each year
Interest Commencement Date: Issue Date
Settlement Date: 31 July 2023
Rating: Aaa.za (sf) by Moody’s Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Designation of Note: Class B Note
Nominal Issued: ZAR 45,000,000
Coupon Rate: 170 bps over 3 month JIBAR as at 24
July 2023
Coupon Step-Up Rate: 221 bps over 3 month JIBAR
Coupon Indicator: Floating
Final Redemption Date: 21 August 2057
First Interest Payment Date: 21 November 2023
Coupon Step-Up Date: 21 August 2027
Interest Payment Dates: 21 February, 21 May, 21 August and
21 November of each year
Books Close: 17 February to 21 February, 17 May
to 21 May, 17 August to 21 August
and 17 November to 21 November of
each calendar year
Last day to register: By 17:00 on 16 November, 16
February, 16 May, 16 August of each
year
Interest Commencement Date: Issue Date
Settlement Date: 31 July 2023
Rating: Aaa.za (sf) by Moody’s Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Designation of Note: Class C Note
Nominal Issued: ZAR 34,000,000
Coupon Rate: 200 bps over 3 month JIBAR as at 24
July 2023
Coupon Step-Up Rate: 200 bps over 3 month JIBAR
Coupon Indicator: Floating
Final Redemption Date: 21 August 2057
First Interest Payment Date: 21 November 2023
Coupon Step-Up Date: 21 August 2027
Interest Payment Dates: 21 February, 21 May, 21 August and
21 November of each year
Books Close: 17 February to 21 February, 17 May
to 21 May, 17 August to 21 August
and 17 November to 21 November of
each calendar year
Last day to register: By 17:00 on 16 November, 16
February, 16 May, 16 August of each
year.
Interest Commencement Date: Issue Date
Settlement Date: 31 July 2023
Rating: A1.za (sf) by Moody’s Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Designation of Note: Class D Note
Nominal Issued: ZAR 31,000,000
Coupon Rate: 290 bps over 3 month JIBAR as at 24
July 2023
Coupon Step-Up Rate: 290 bps over 3 month JIBAR
Coupon Indicator: Floating
Final Redemption Date: 21 August 2057
First Interest Payment Date: 21 November 2023
Coupon Step-Up Date: 21 August 2027
Interest Payment Dates: 21 February, 21 May, 21 August and
21 November of each year
Books Close: 17 February to 21 February, 17 May
to 21 May, 17 August to 21 August
and 17 November to 21 November of
each calendar year
Last day to register: By 17:00 on 16 November, 16
February, 16 May, 16 August of each
year
Interest Commencement Date: Issue Date
Settlement Date: 31 July 2023
Rating: N/A
Placement Agent: The Standard Bank of South Africa
Limited
Date: 28 July 2023
Sponsor: The Standard Bank of South Africa
Limited
Notes will be deposited in the Central Depository (“CSD”) and
settlement will take place electronically in terms of JSE Rules.
For further information on the Notes issued please contact:
Nicholas Gunning Standard Bank (Sponsor) (011) 721 7112
Email: nicholas.gunning@standardbank.co.za
Date: 28-07-2023 09:56:00
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