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AFRICAN BANK LIMITED - Interest Rate Reset

Release Date: 02/10/2012 09:35
Code(s): ABL11B ABLS3 ABLS4 ABLS5     PDF:  
Wrap Text
Interest Rate Reset

African Bank Limited
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank”)


INTEREST RATE RESET ANNOUNCEMENT

ABL11B    7.575% p.a. (250bps over 3 month Jibar of 5.075%) for the
          period 01 October 2012 to 30 December 2012, payable on
          31 December 2012 (Following*)
          Next reset: 31 December 2012

ABLS5     10.053% p.a. (499bps over 3 month Jibar of 5.063%) for the
          period 28 September 2012 to 29 December 2012, payable on
          31 December 2012 (Modified Following*)
          Next reset: 31 December 2012

ABLS4     9.575% p.a. (450bps over 3 month Jibar of 5.075%) for the
          period 01 October 2012 to 30 December 2012, payable on
          31 December 2012 (Following*)
          Next reset: 31 December 2012

ABLS3     9.075% p.a. (400bps over 3 month Jibar of 5.075%) for the
          period 01 October 2012 to 30 December 2012, payable on
          31 December 2012 (Following*)
          Next reset: 31 December 2012


JIBAR rates as at 28 September 2012: 3 Month 5.063%
JIBAR rates as at 01 October 2012: 3 Month 5.075%


*When the Interest Payment Date falls on a non business day, one of
the following Date Conventions will be applied, as specified for
each individual bond:

1. Following – This means that the interest will be paid on the
   first business day after the weekend or public holiday.

2. Modified Following – This means that the interest will be paid on
   the first business day after the weekend or public holiday.
   However, if the first business day after the weekend or public
   holiday falls in a new calendar month the last business day
   before the weekend / public holiday will be used instead.
3. Preceding – This means that the interest will be paid on the last
   business day before the weekend or public holiday.


Midrand

02 October 2012

Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 02/10/2012 09:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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