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Banks (Finance)

ABSA Bank Limited Lists Six New Financial Instruments on the JSE

Strategic Insights

— 1 min read

ABSA Bank Limited, a South African-based bank, has announced the listing of six new financial instruments on the Johannesburg Stock Exchange (JSE). These instruments, known as credit-linked notes, are designed to provide investors with a unique investment opportunity that is linked to the performance of the South African credit market. The notes are issued under the bank's Master Structured Note Programme, which has a total authorized programme size of R80,000,000,000.00. The notes are listed on the JSE and are available for trading.

Key Takeaways:

  • The six new financial instruments listed on the JSE are credit-linked notes, which offer investors a unique investment opportunity linked to the South African credit market.
  • The notes are issued under the bank's Master Structured Note Programme, which has a total authorized programme size of R80,000,000,000.00.
  • Each of the six notes has a different nominal issue size, ranging from R65,000,000.00 to R300,000,000.00.
  • The notes have varying interest payment dates, maturity dates, and issue dates, but all have a floating coupon rate linked to the 3-month Johannesburg Inter-Bank Average Rate (JIBAR).
  • The notes are unsecured and unsubordinated, indicating that they do not have any priority over other ABSA Bank Limited debt obligations.
  • The debt sponsor for these financial instruments is Absa Corporate and Investment Bank, a division of ABSA Bank Limited.

Statistics:

  • Total authorized programme size: R80,000,000,000.00
  • Total notes in issue: R68,395,892,354.06
  • Nominal issue size of each note:

+ ASC269: R300,000,000.00

+ ASC270: R300,000,000.00

+ ASC271: R300,000,000.00

+ ASC272: R300,000,000.00

+ ASC273: R65,000,000.00

+ ASC274: R100,000,000.00

  • Maturity dates:

+ ASC269: 20 June 2030

+ ASC270: 20 June 2030

+ ASC271: 20 June 2030

+ ASC272: 02 July 2030

+ ASC273: 02 July 2028

+ ASC274: 03 July 2030

Sources:

  • Johannesburg Stock Exchange (JSE)
  • ABSA Bank Limited
  • Absa Corporate and Investment Bank, a division of ABSA Bank Limited

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