REPUBLIC OF SOUTH AFRICA - Government's weekly auction level increase

Government's weekly auction level increase

 Department of National Treasury
 REPUBLIC OF SOUTH AFRICA
 Private Bag X115, Pretoria, 0001. Tel: (+27 12) 315 5944. Fax: (+27 12) 407 9055




 SENS ANNOUNCEMENT



WEEKLY BOND AUCTION LEVELS AND ASSOCIATED MARKET MAKING OBLIGATIONS


In April 2020, the National Treasury announced that the weekly auction levels increase will be
delayed due to market uncertainty that emanated from the COVID-19 and indicated that new levels
will be published after the lock-down has been lifted on 16 April as previously announced by the
President. The president has since announced the lock-down extension and the market has
stabilized somewhat. Therefore, the National Treasury would like to announce the increase to the
weekly auction level amounts, so as to cover the budget deficit outlined in the 2020 Budget Review.

         *The fixed-rate government bond auction amount will be increased by
         R1 570 million to R6 100 million effective from auction to be conducted on 19 May 2020


         *The weekly inflation-linked government bond auction amount will be increased by
         R360 million to R1 400 million effective from auction to be conducted on 15 May 2020

         *The non-competitive auction facility will remain at 100 per cent and the split will revert to
         pre-lock-down with 60 per cent split allocated to the Electronic Trading Platform
         performance and 40 per cent allocated to the Primary Market auction participation.


         *The Primary Dealer’s secondary market making obligations in the Johannesburg Stock
         Exchange have not changed and remains place.


As indicated by the Minister of Finance, an Adjustment Budget will be tabled in the coming months
and the revised Funding Strategy will be published thereafter.

For further enquiries contact:



S Shange
Director: Debt Issuance and Management
012 315 5753 / +27 60 969 3755
Date: 8 May 2020

Date: 08-05-2020 01:00:00
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