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Economic development

IDC Lists Two New Sustainable Notes on Johannesburg Stock Exchange

Strategic Insights

— 1 min read

The Industrial Development Corporation of South Africa Limited (IDC) has announced the listing of two new sustainable notes on the Johannesburg Stock Exchange (JSE), as part of its Domestic Medium Term Note Programme in the Interest Rate Market. These new financial instruments, designated as IDCS06 and IDCS07, are aimed at bolstering the corporation's commitment to sustainable development and investment. The authorized programme size for the IDC's Domestic Medium Term Note Programme stands at R50.00 billion, with the total notes currently in issue, excluding these new tranches, amounting to R33.68 billion.

Key Takeaways:

  • The IDC has listed two new sustainable notes on the JSE, IDCS06 and IDCS07, as part of its Domestic Medium Term Note Programme in the Interest Rate Market.
  • The authorized programme size for the IDC's Domestic Medium Term Note Programme is R50.00 billion, with R33.68 billion in total notes currently in issue.
  • Bond IDCS06 has a nominal value of R180.00 million, a floating rate structure, and an issue price of 100%.
  • The coupon for IDCS06 is set at the three-month Johannesburg Interbank Agreed Rate (JIBAR) plus 185 basis points.
  • Bond IDCS07 has a nominal value of R1.20 billion, a floating rate structure, and an issue price of 100%.
  • The coupon for IDCS07 is set at the three-month JIBAR plus 200 basis points.
  • The final redemption dates for IDCS06 and IDCS07 are June 23, 2030, and June 23, 2032, respectively.
  • Interest payments for both notes will be made quarterly in arrears, beginning on September 23, 2025.
  • Both notes are senior and unsecured, offering investors a structured opportunity to engage with the South African market's sustainable financial instruments.

Statistics:

  • The total notes currently in issue, excluding the new tranches, amount to R33.68 billion.
  • The authorized programme size for the IDC's Domestic Medium Term Note Programme is R50.00 billion.
  • Bond IDCS06 has a nominal value of R180.00 million and an issue price of 100%.
  • Bond IDCS07 has a nominal value of R1.20 billion and an issue price of 100%.
  • The coupon for IDCS06 is set at the three-month JIBAR plus 185 basis points.
  • The coupon for IDCS07 is set at the three-month JIBAR plus 200 basis points.
  • The final redemption date for IDCS06 is June 23, 2030.
  • The final redemption date for IDCS07 is June 23, 2032.

Sources:

  • Johannesburg Stock Exchange (JSE)
  • Industrial Development Corporation of South Africa Limited (IDC)

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