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ABKI - Repurchase of USD notes issued under African Bank’s USD6 billion EMTN Program – ISIN: XS1390060546
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 17th and 19th 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.
A separate announcement has been released on the news service operated by the London
Stock Exchange in respect of the USD bond repurchased, as listed on that exchange.
Midrand
20 March 2020
Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa
Date: 20-03-2020 01:37:00
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