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Introduction of new fixed-rate bond instruments
REPUBLIC OF SOUTH AFRICA
Department of National Treasury
Issuer code: BIRSA
("National Treasury")
INTRODUCTION OF NEW FIXED-RATE BOND INSTRUMENTS
As indicated in the SENS announcement published on 21 February 2024, the National Treasury
reduced the fixed-rate bond ("FRB") auction levels by R150 million to R3 750 million with effect
from 1 April 2024.
The reduction in the FRB auction levels was intended to allow the National Treasury to reconstruct
the FRB curve and ensure the sustainable financing of the borrowing requirement, whilst remaining
within the strategic risk benchmarks.
To further support this objective, the National Treasury will be introducing new instruments in the
belly of the yield curve, comprising of 9- and 15-year FRBs during the 2024/25 fiscal year. The
introduction of these FRBs should assist in reducing the Average-Time-to-Maturity (ATM) and
Weighted-Term-to-Maturity (WTM), as well as to flatten the curve from current elevated levels.
Further details regarding these instruments will be announced at the appropriate future date.
For further enquiries contact:
Terry Bomela-Msomi
Director: Debt Issuance and Management
012 315 5753 / +27 66 289 2492
Pretoria
16 July 2024
Debt Sponsor
One Capital
Date: 16-07-2024 12:40:00
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