MMI GROUP LTD - Raises R1.25 billion from the South African debt capital markets - MMIG04/5

Release Date: 11/08/2015 13:10
Code(s): MMIG04 MMIG05
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Raises R1.25 billion from the South African debt capital markets - MMIG04/5

MMI Group Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1904/002186/06)
Company code: MMIG
ISIN MMIG04: ZAG000128505
ISIN MMIG05: ZAG000128513

MMI Group Limited raises R1.25 billion from the South African debt capital markets

MMI Group Limited (a registered long-term insurance company and fully-owned subsidiary of
MMI Holdings Limited), which has a registered R5 billion subordinated note programme with the
JSE Stock Exchange, issued two bonds on 6 August 2015 totalling R1.25 billion.

The 7-year fixed rate R980 million bond was issued at 2.73% over the government benchmark
bond being the R2023 and the 10-year fixed rate R270 million bond was issued at 3.05% over
the government benchmark bond being the R186.

The issuance was just under 1.8 times subscribed, which resulted in MMI achieving pricing which
is, for the 7-year bond, below the upper end, and for the 10-year bond, at the lower end of the
price guidance that had been put out to the market by the arrangers of the issuance, Rand
Merchant Bank, a division of FirstRand Bank Limited.

MMI Holdings Limited group CEO, Nicolaas Kruger, says “We are very pleased with the success
of this issuance, given the continued difficult conditions in South African capital markets. The
significant interest in the two bonds demonstrates investors’ confidence in the financial strength
and stability of MMI”.

MMI Group Limited will be redeeming R1.0 billion of subordinated debt issued in April 2006, in
line with the original timeline and intention during September 2015.

Contact: Lotz Mahlangeni
MMI Holdings Limited
Tel: 012 673 7693

11 August 2015

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

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