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Thekwini Fund 20 Notes Issuance
The Thekwini Fund 20 (RF) Limited
("Thekwini 20")
Issuer Code: TKWI20
New Financial Instrument Listing Announcement
Dated: 30 June 2025
Stock Codes: TH20O1, T20A11, T20A21, TH20B1, TH20C1, TH20D1
ISIN Codes: ZAG000216870, ZAG000216755, ZAG000216789, ZAG000216763,
ZAG0000216748, ZAG000216722
The JSE Limited has granted Thekwini 20 the listing of its:
- "TH20O1" Floating Rate Notes due 21 May 2026; and
- "T20A11, T20A21, TH20B1, TH20C1, TH20D1" Floating Rate Notes
all due 21 May 2062 (Step up and call date 21 May 2030, except
for T20A11 which has a Step up and call date of 21 May 2028)
issued in terms of its ZAR5,000,000,000 Asset Backed Note Programme
dated on or about 19 June 2025.
Total notes outstanding (incl. this issue) ZAR1,800,000,000
Full Note details are as follows:
Bond Code: TH20O1
Designation of Note: Class Omega Note
Nominal Issued: ZAR 126,000,000
Coupon Rate: 7.968 % (being 66 bps over 3 month
JIBAR of 7.308 %)
Issue Price: 100%
Coupon Step-Up Rate: N/A
Coupon Indicator: Floating
Final Redemption Date: 21 May 2026
First Interest Payment Date: 21 August 2025
Coupon Step-Up Date: N/A
Interest Payment Dates: 21st day of February, May, August
and November of each calendar year
Books Close: 16 August 2025,16 November 2025, 16
February 2026 and 16 May 2026
Last day to register: By 17:00 on 15 August 2025,15
November 2025, 15 February 2026 and
15 May 2026
Interest Commencement Date: 02 July 2025
Settlement Date: 02 July 2025
Rating: P-1.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: T20A11
Designation of Note: Class A1 Note
Nominal Issued: ZAR 540,000,000
Coupon Rate: 8.428 % (being 112 bps over 3 month
JIBAR of 7.308 %)
Coupon Step-Up Rate: 146 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 August 2025
Coupon Step-Up Date: 21 May 2028
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 02 July 2025
Settlement Date: 02 July 2025
Rating: Aaa.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: T20A21
Designation of Note: Class A2 Note
Nominal Issued: ZAR 877,000,000
Coupon Rate: 8.528 % (being 122 bps over 3 month
JIBAR of 7.308 %)
Coupon Step-Up Rate: 159 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 August 2025
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 02 July 2025
Settlement Date: 02 July 2025
Rating: Aaa.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: TH20B1
Designation of Note: Class B Note
Nominal Issued: ZAR 90,000,000
Coupon Rate: 8.728 % (being 142 bps over 3 month
JIBAR of 7.308 %)
Coupon Step-Up Rate: 185 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 August 2025
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 02 July 2025
Settlement Date: 02 July 2025
Rating: Aaa.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: TH20C1
Designation of Note: Class C Note
Nominal Issued: ZAR 90,000,000
Coupon Rate: 9.128 % (being 182 bps over 3 month
JIBAR of 7.308 %)
Coupon Step-Up Rate: 182 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 August 2025
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 02 July 2025
Settlement Date: 02 July 2025
Rating: A1.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: TH20D1
Designation of Note: Class D Note
Nominal Issued: ZAR 77,000,000
Coupon Rate: 10.058 % (being 275 bps over 3 month
JIBAR of 7.308 %)
Coupon Step-Up Rate: 275 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 December 2060
First Interest Payment Date: 21 August 2025
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 02 July 2025
Settlement Date: 02 July 2025
Rating: N/A
Placement Agent: The Standard Bank of South Africa
Limited
Date: 30 June 2025
Debt Sponsor: The Standard Bank of South Africa
Limited
Notes will be deposited in the Central Depository ("CSD") and
settlement will take place electronically in terms of JSE Rules.
For further information on the Notes issued please contact:
Megan Kriel Standard Bank (Sponsor) (011) 415 6121
Email: megan.kriel@standardbank.co.za
Date: 30-06-2025 04:50:00
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