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R186 (10.50%) 2025/26/27 bond split option
REPUBLIC OF SOUTH AFRICA
Department of National Treasury
Issuer code: BIRSA
("National Treasury")
R186 (10.50%) 2025/26/27 BOND SPLIT OPTION
The National Treasury hereby notifies bondholders of the R186 (10.50%) 2025/26/27 government
bond, of the option to split the bond into three new series of bonds ("Split Option").
The Split Option is in line with similar options to split previously made by the National Treasury with
regard to the R147, R150, R153, and R157 three-legged government bonds.
The Split Option is optional and will remain available until 11 December 2025, which is the book
closed date before the first maturity date, being 21 December 2025, as indicated in the terms and
conditions of the issue. On the book closed date, being 11 December 2025, all remaining
outstanding R186 government bonds will automatically be split into three maturity legs:
R010 – 10.5% 2025, redeemable on 21 December 2025
R187 – 10.5% 2026, redeemable on 21 December 2026
R188 – 10.5% 2027, redeemable on 21 December 2027
Method to split – if a holding in the R186 bond is not fully divisible by one-third, the R010 and R188
will be rounded to the nearest one rand (R1.00), with the balance being added to the middle
tranche, R187.
For further enquiries contact:
Terry Bomela-Msomi
Director: Debt Issuance and Management
012 315 5136 / +27 66 289 2492
Pretoria
8 February 2024
Debt Sponsor
One Capital
Date: 08-02-2024 10:35:00
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