Wrap Text
Credit event notification - IVC300, IVC303, IVC304, IVC306, IVC307, IVC312 IVC335, IVC337, IVC338, IVC340, IVC342
Investec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1969/004763/06)
Issuer code: BIINLP
LEI No: 549300RH5FFHO48FXT69
IVC300 ZAG000206848
IVC303 ZAG000207549
IVC304 ZAG000207713
IVC306 ZAG000207911
IVC307 ZAG000207929
IVC312 ZAG000209651
IVC335 ZAG000214644
IVC337 ZAG000214848
IVC338 ZAG000214909
IVC340 ZAG000214826
IVC342 ZAG000214974
IVC353 ZAG000217019
Notification of a Credit Event in respect of the IVC300, IVC303, IVC304, IVC306, IVC307, IVC312
IVC335, IVC337, IVC338, IVC340, IVC342 and IVC353 Notes
Investec Bank Limited hereby gives notice, in accordance with the terms and conditions of its
ZAR35,000,000,000 Credit-Linked Note Programme dated 17 March 2021, of the occurrence of a
Credit Event (Restructuring) in respect of Ardagh Packaging Finance Plc, one of the constituent
Reference Entities listed under the:
(i) iTraxx Crossover Index Series 41 (Bloomberg: ITRX XOVER CDSI S41 5Y Corp), which Index
is referenced under the IVC300, IVC303, IVC304, IVC306 and IVC307 Notes (the "Index Series
41 Notes");
(ii) iTraxx Crossover Index Series 42 (Bloomberg: ITRX XOVER CDSI S42 5Y Corp), which Index
is referenced under the IVC312 Notes (the "Index Series 42 Notes"); and
(iii) iTraxx Crossover Index Series 43 (Bloomberg: ITRX XOVER CDSI S43 5Y Corp), which Index
is referenced under the IVC335, IVC337, IVC338, IVC340, IVC342 and IVC353 Notes (the
"Index Series 43 Notes" and together with the Index Series 41 Notes and Index Series 42 Notes
collectively referred to as the "Affected Notes").
The Affected Notes shall, pursuant to the terms as set out in the Applicable Pricing Supplement
executed in respect of each of the Affected Notes, not be early redeemed.
Interest will cease to accrue on the Reference Entity Notional Amount attributable to Ardagh Packaging
Finance Plc in relation to the:
(i) IVC300, IVC303, IVC306, and IVC312 with effect from 22 December 2025; and
(ii) IVC335, IVC337, IVC338, IVC340, IVC342 and IVC353 with effect from 15 December 2025.
The third Reference Entity Determination Date has occurred in relation to the IVC304 and IVC307
Notes.
Further details in relation to the Affected Notes, including the adjustment of any amounts and any
other relevant information in relation to the Affected Notes following the occurrence of the Credit Event
shall, pursuant to the terms of the Applicable Pricing Supplement executed in respect of each of the
Affected Notes, be provided by the Calculation Agent as soon as determined.
22 December 2025
Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za
Date: 22-12-2025 03:35:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
