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Banks (Finance)

ABSA Bank Limited Lists New Financial Instruments on Johannesburg Stock Exchange

Strategic Insights

— 1 min read

ABSA Bank Limited has recently listed new financial instruments on the Johannesburg Stock Exchange, including credit-linked notes. The JSE Limited has granted financial instrument listing to the ABSA BANK LIMITED "ASC264, ASC265, and ASC266" notes under its Master Structured Note Programme Memorandum. The notes are part of the issuer's R80,000,000,000.00 authorized programme, with a total of R66,841,710,654.06 notes issued.

Key Takeaways:

  • The ABSA Bank Limited has listed three new credit-linked notes on the Johannesburg Stock Exchange: ASC264, ASC265, and ASC266.
  • The notes are part of the issuer's R80,000,000,000.00 authorized programme, with a total of R66,841,710,654.06 notes issued.
  • The notes have a floating coupon rate, tied to the 3-month JIBAR rate plus a spread of 135 basis points for ASC264 and 222 basis points for ASC266.
  • The maturity dates for the notes are June 24, 2030 (ASC264 and ASC265) and June 20, 2030 (ASC266).
  • Interest payments are made quarterly, with the first payment due on September 24, 2025, for ASC264 and ASC265, and September 20, 2025, for ASC266.

Statistics:

  • The total authorized programme size for the ABSA Bank Limited is R80,000,000,000.00.
  • The total notes issued is R66,841,710,654.06.
  • The notes have a nominal value of ZAR50,000,000.00 (ASC264), ZAR150,000,000.00 (ASC265), and ZAR400,000,000.00 (ASC266), respectively.
  • The floating coupon rate for ASC264 is 3M JIBAR + 135 basis points, while for ASC266 it is 3M JIBAR + 222 basis points.

Sources:

  • Johannesburg Stock Exchange: https://www.jse.co.za/
  • ABSA Bank Limited website: https://www.absa.africa/absaafrica/investor-relations/debt-investors/

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