BIABL - African Bank issues USD300 million of Senior Unsecured Bonds

BIABL - African Bank issues USD300 million of Senior Unsecured Bonds            
African Bank Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registered bank)                                                               
(Registration number 1975/002526/06)                                            
Company code: BIABL                                                             
("African Bank")                                                                
AFRICAN BANK ISSUES USD300 MILLION OF SENIOR UNSECURED BONDS                    
African Bank Limited (a wholly-owned subsidiary of ABIL) ("African Bank") has   
issued a USD 300 million five year fixed rate senior unsecured bond (ISIN       
XS0638008051), with a final redemption date of 15 June 2016.  This bond was     
issued at a credit spread of 425bps above the prevailing five year US Dollar    
midswaps rate. African Bank has executed a USD / ZAR cross currency hedge,      
swapping all future US Dollar exposure into fixed ZAR exposure.                 
The bond has been listed on the London Stock Exchange on 15 June 2011, and is   
the first listed bond issued under African Bank`s USD1 billion Euro Medium Term 
Note programme.                                                                 
For further information please contact Steven Kahanovitz on +27 11 564 6709 or  
Gavin Jones on +27 11 564 6868.                                                 
Midrand                                                                         
15 June 2011                                                                    
Debt Sponsor                                                                    
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Joint bookrunners and lead managers                                             
CREDIT SUISSE SECURITIES (Europe) LIMITED, GOLDMAN SACHS INTERNATIONAL, STANDARD
CHARTERED BANK                                                                  
Co-manager                                                                      
RAND MERCHANT BANK (A division of FirstRand Bank Limited - London Branch)       
Date: 15/06/2011 17:25:01 Supplied by www.sharenet.co.za                     
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