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Real estate investment trusts

Vukile Property Fund Limited Announces Financial Transactions Under its R5 Billion Domestic Medium Term Note Programme

Strategic Insights

— 1 min read

Vukile Property Fund Limited, a real estate investment trust listed on the Johannesburg Stock Exchange, has announced a series of financial transactions under its R5 billion Domestic Medium Term Note Programme, established on 23 March 2021. The transactions include a full capital redemption of one bond and interest payments on several others, with all payments scheduled for August 2024. Notably, Vukile has confirmed a full capital redemption of its VKE18 bond, which amounts to R342 million, and interest payments on multiple bonds with payment dates aligned to 27 August 2024.

Key Takeaways:

  • Vukile Property Fund Limited announced a series of financial transactions under its R5 billion Domestic Medium Term Note Programme, established on 23 March 2021.
  • The transactions include a full capital redemption of one bond (VKE18) and interest payments on several others, with all payments scheduled for August 2024.
  • The full capital redemption of VKE18 bond amounts to R342 million, with an interest payment due on 27 August 2024, calculated at a coupon rate of 10.192%, totaling R8.8 million.
  • Interest payments cover bonds VKE16, VKE19, VKE20, VKE21, VKE22, VKE25, VKE26, and VKE27, with notable payments including R13.4 million for VKE20 at a 9.932% coupon rate and R12.9 million for VKE25 at a 9.622% coupon rate.
  • The smallest interest payment announced was R2.4 million for VKE27, which carries a coupon rate of 9.892%.
  • The series of payments underlines Vukile's adherence to the terms set out in its note programme, ensuring compliance with financial obligations and maintaining trust with its noteholders.
  • Java Capital serves as the financial advisor for these transactions.

Statistics:

  • Total value of VKE18 bond redemption: R342 million
  • Interest payment for VKE18 bond: R8.8 million (10.192% coupon rate)
  • Total interest payments for multiple bonds:

* VKE20: R13.4 million (9.932% coupon rate)

* VKE25: R12.9 million (9.622% coupon rate)

* VKE27: R2.4 million (9.892% coupon rate)

* Other bonds: R[determine the total interest payment for the other bonds from the text or source]

  • R5 billion: the total amount allocated for Vukile's Domestic Medium Term Note Programme

Sources:

  • Johannesburg Stock Exchange (JSE)
  • Vukile Property Fund Limited press release dated 02 Aug 2024 (Johannesburg Stock Exchange)
  • Java Capital (financial advisor for these transactions)

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