Redefine Properties Limited Announces Significant Financial Movements Under Domestic Medium-Term Note Programme

Redefine Properties Limited, a Real Estate Investment Trust approved by the Johannesburg Stock Exchange (JSE), has made notable announcements regarding its financial activities. The company has initiated a full capital redemption under its R30 billion Domestic Medium-Term Note Programme, which was launched on 20 July 2021. Notably, a principal amount of R1 billion will be paid alongside an interest payment of R25,804,109.59 on 26 July 2024. In addition, Redefine Properties will make an interest payment on the RDFB30 bond, with an ISIN of ZAG000204256, amounting to R12,889,838.36 for the period from 4 April 2024 to 3 July 2024.

Key Takeaways:

Redefine Properties Limited has announced a full capital redemption under its R30 billion Domestic Medium-Term Note Programme, which was initiated on 20 July 2021.
A principal amount of R1 billion will be paid alongside an interest payment of R25,804,109.59 on 26 July 2024, with the interest payment covering the period from 26 April 2024 to 25 July 2024 and bearing a coupon rate of 10.35%.
The company will also make an interest payment on the RDFB30 bond, with an ISIN of ZAG000204256, amounting to R12,889,838.36 for the period from 4 April 2024 to 3 July 2024, with the due date set for 4 July 2024 and bearing a coupon rate of 9.7%.
The payments for both bonds will adhere to the 'following business day' convention, ensuring that if a payment date falls on a non-business day, it will be processed on the next business day.
Redefine Properties' move underscores its adherence to scheduled fiscal obligations and operational commitment to maintaining structured financial management.

Statistics:

Principal amount to be paid: R1 billion
Interest payment: R25,804,109.59
Coupon rate for RDFB27 bond: 10.35%
Interest payment on RDFB30 bond: R12,889,838.36
Coupon rate for RDFB30 bond: 9.7%

Sources:

Johannesburg Stock Exchange (JSE)
Redefine Properties Limited