TRANSNET SOC LIMITED - BITRA-Transnet Bond Activity

BITRA-Transnet Bond Activity

TRANSNET SOC Limited
Issuer Code: BITRA
(“TRANSNET”)



TRANSNET BOND ACTIVITY

Earlier this year, after engagement with its Market Making Dealer Panel (ABSA, Investec, Nedbank,
RMB and Standard Bank), Transnet took the decision to cancel the Market Making Dealer Panel
agreements and to formulate the following provisions under which Transnet Treasury will interact
with bond market participants in future.



1. Transnet Treasury will show sell-side only prices to any Johannesburg Stock Exchange (“JSE”)
   Bond Member. The nominal size and yields of these transactions will depend on market
   circumstances and will be at the sole discretion of Transnet Treasury.

2. These “on demand” prices will be available from Transnet Treasury as requested during normal
   JSE trading hours.

3. Transnet Treasury will offer bond repurchase (“Repo”) facilities, whose amount and carry rate
   will be at the sole discretion of Transnet Treasury, to any JSE Bond Member. The roll-over of
   such Repo transactions will be at the sole discretion of Transnet Treasury.

4. Transnet Treasury has in the past placed an informal limit (“Cap”) on the total issue size of the
   Transnet bonds. This Cap has been reviewed and the revised Cap per Transnet bond, is as
   indicated in the table below:

    New Transnet Bonds Issuance Cap (R billions):

   BONDS                            ISSUED BALANCE                CAP                AVAILABLE

   TN20                                     7.000                 7.000                  -

   TN23                                     7.000                 7.000                  -

   TN25                                     7.000                 9.000              2.000

   TN27                                     7.000                10.000              3.000

   TN30                                     3.371                 7.000              3.629

   TN40                                     3.130                 7.000              3.870




5. Transnet Treasury reserves the right to adjust the cap, at its sole discretion.
Any changes to the cap and/or the provisions outlined above, will be communicated to the market
before implementation.


15 August 2019

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 15/10/2019 11:15:00
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