Investec Bank Lists New Financial Instrument on Johannesburg Stock Exchange

Strategic Insights -

Investec Bank Limited has made significant strides in the financial market by listing its new instrument, the IBL331 Notes, on the Johannesburg Stock Exchange (JSE). This move is expected to enhance the diversity of investment opportunities available and reflects a moderate shift in the market. The IBL331 Notes, which are Senior Unsecured Callable Mixed Rate Notes, have an aggregate nominal amount of ZAR500.00 million and offer a combination of fixed and floating interest rates.

Key Takeaways:

  • The IBL331 Notes have an aggregate nominal amount of ZAR500.00 million, with an initial fixed interest rate of 7.65% per annum until September 5, 2026.
  • Following September 5, 2026, the interest rate will transition to a floating rate, calculated at the reference rate plus a margin of 0.80%.
  • The reference rate is linked to ZAR-JIBAR-SAFEX with a designated maturity of three months, with a maturity date set for September 5, 2027.
  • The issue price for each note is set at 100%, with a nominal amount per note of R1,000,000.
  • The IBL331 Notes can be traded on the JSE under the stock code IBL331, with the ISIN ZAG000218876.
  • The listing of IBL331 Notes reflects a moderate move in the financial instruments market.
  • The notes include an optional redemption date, allowing Investec Bank to call the notes on September 5, 2026, with the final redemption amount being the nominal amount per note, plus any accrued unpaid interest up to the maturity date.
  • The aggregate nominal amount of notes outstanding in this series, including this issuance, amounts to ZAR39.37 billion.
  • Investors are advised to consult the applicable pricing supplement for comprehensive details on the terms and conditions of these notes.

Statistics:

  • ZAR500.00 million: Aggregate nominal amount of the IBL331 Notes.
  • 7.65%: Initial fixed interest rate per annum.
  • September 5, 2026: Date when the interest rate will transition to a floating rate.
  • 0.80%: Margin added to the reference rate.
  • September 5, 2027: Maturity date for the IBL331 Notes.
  • 100%: Issue price for each note.
  • R1,000,000: Nominal amount per note.
  • ZAR39.37 billion: Aggregate nominal amount of notes outstanding in this series.

Sources:

  • Johannesburg Stock Exchange (JSE)
  • Investec Bank Limited
  • Investec Bank's Domestic Medium-Term Note and Preference Share Programme