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AFRICAN BANK LIMITED - Interest Rate reset-ABL13 & ABLS2B

Release Date: 13/01/2014 17:03
Code(s): ABLS2B ABL13     PDF:  
Wrap Text
Interest Rate reset-ABL13 & ABLS2B

African Bank Limited
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Company code: BIABL
ISIN ABL13: ZAG000089863
ISIN ABLS2B: ZAG000069501

(“African Bank”)


INTEREST RATE RESET ANNOUNCEMENT

ABL13     7.725% p.a. (2.50% over 3 month Jibar of 5.225%) for the
           period 13 January 2014 to 10 April 2014, payable on
           11 April 2014 (Modified Following*)
           Next reset:11 April 2014

ABLS2B     11.525% p.a. (6.30% over 3 month Jibar of 5.225%) for the
           period 13 January 2014 to 13 April 2014, payable on
           14 April 2014 (Modified Following*)
           Next reset: 14 April 2014

JIBAR rate as at 13 January 2014: 3 Month 5.225%

*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.


13 January 2014

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

Date: 13/01/2014 05:03:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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