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MMI GROUP LIMITED - MMIG07 - Listing of New Financial Instrument

Release Date: 15/03/2019 08:00
Code(s): MMIG07     PDF:  
 
Wrap Text
MMIG07 - Listing of New Financial Instrument

MMI Group Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1904/002186/06)
Company code: MMIG
Bond Code: MMIG07
ISIN: ZAG000157496
(“MMI”)


LISTING OF NEW FINANCIAL INSTRUMENT

The JSE Limited has granted MMI the listing of its Unsecured Subordinated Callable Floating Rate Notes, in
terms of its Unsecured Subordinated Note Programme (“the Programme”), as guaranteed by MMI Holdings
Limited, dated 08 March 2019, effective 18 March 2019.


Debt Security Code:                         MMIG07
ISIN:                                       ZAG000157496
Type of Debt Security:                      Floating Rate Notes
Nominal Issued:                             ZAR 750 000 000.00
Issue Date:                                 18 March 2019
Issue Price:                                100%
Coupon Rate:                                3 Month JIBAR plus 175 basis points, applicable from 18 March
                                            2019 to 18 September 2024
Step-Up Rate:                               3 Month JIBAR plus 275 basis points, applicable from 18
                                            September 2024 to 18 September 2029
Interest Commencement Date:                 18 March 2019
Interest Determination Date(s):             18 June, 18 September, 18 December and 18 March of each year
                                            until maturity, with the first interest determination date being
                                            13 March 2019
First Interest Payment Date:                18 June 2019
Interest Payment Date(s):                   18 June, 18 September, 18 December and 18 March of each year
                                            until maturity
Last Day to Register:                       By 17h00 on 7 June, 7 September, 7 December and 7 March of
                                            each year until maturity
Books Close:                                8 June, 8 September, 8 December and 8 March of each year until
                                            maturity
Business Day Convention:                    Following Business Day
Optional Redemption Date:                   18 September 2024
Final Maturity Amount:                      18 September 2029
Other:                                      The pricing supplement does not contain additional terms and
                                            conditions or changes to the terms and conditions as contained
                                            in the Programme
Summary of Additional Terms:                Not Applicable

Programme Amount:                           ZAR 10 000 000 000.00
Total Notes in Issue Under Programme:       ZAR 4 250 000 000.00, exclusive of this issuance of notes
Dealer:                                     FirstRand Bank Limited, acting through its Rand Merchant Bank
                                            division

The Notes will be immobilised in the Central Securities Depository and settlement will take place
electronically in terms of JSE Rules.


15 March 2019

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 15/03/2019 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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