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STANBIC - R1 500 MILLION TIER II BOND ISSUE

Release Date: 09/11/2000 11:32
Code(s): SBK
Wrap Text
THE STANDARD BANK OF SOUTH AFRICA LIMITED

THE STANDARD BANK OF SOUTH AFRICA LIMITED R1 500 MILLION TIER II BOND ISSUE THE STANDARD BANK OF SOUTH AFRICA LIMITED TODAY LAUNCHED A R1 500 MILLION SUBORDINATED UNSECURED CALLABLE BOND, DUE 2 DECEMBER 2010. THE BOND HAS A MATURITY OF 10 YEARS BUT STANDARD BANK HAS THE OPTION TO CALL THE BOND ON 2 DECEMBER 2005 AND ON ANY INTEREST PAYMENT DATE THEREAFTER. THE BOND INITIALLY PAYS A FIXED SEMI-ANNUAL COUPON OF 13.75%. IF THE BOND IS NOT CALLED, THE COUPON SWITCHES TO JIBAR PLUS 217BP UNTIL MATURITY. THE BOND, THE SECOND TO BE ISSUED BY STANDARD BANK, WAS PLACED BY JP MORGAN SECURITIES SOUTH AFRICA (PROPRIETARY) LIMITED AND STANDARD CORPORATE AND MERCHANT BANK (SCMB), A DIVISION OF THE STANDARD BANK OF SOUTH AFRICA LIMITED. THE BOND WILL BE LISTED ON THE BOND EXCHANGE OF SOUTH AFRICA. DETAILS OF THE BOND ISSUE ARE: ISSUE DATE: 9 NOVEMBER 2000 SETTLEMENT DATE: 1 DECEMBER 2000 BOND EXCHANGE CODE: SBK2 NOMINAL: R1 500 MILLION MATURITY DATE: 2 DECEMBER 2010
COUPON: FIXED AT 13.75% UNTIL 2 DECEMBER 2005 THEREAFTER FLOATING AT JIBAR PLUS 217BP UNTIL MATURITY:
ISSUER'S CALL: 2 DECEMBER 2005 OR ANY INTEREST PAYMENT DATE THEREAFTER AT THE NOMINAL AMOUNT
STATUS: SUBORDINATED, QUALIFYING TIER II CAPITAL ISSUE LAW: SOUTH AFRICAN DENOMINATIONS: R1 MILLION PLACEMENT AGENT AND UNDERWRITER: JP MORGAN PLACEMENT AGENT: SCMB

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