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Banks (Finance)

Standard Bank of South Africa Limited Lists SBC197 Senior Unsecured Floating Rate Notes on Johannesburg Stock Exchange

Strategic Insights

— 1 min read

The Standard Bank of South Africa Limited has successfully listed its SBC197 Senior Unsecured Floating Rate Notes on the Johannesburg Stock Exchange (JSE), marking a significant milestone in the bank's Structured Note Programme. This latest issuance, with a maturity date of January 31, 2037, adds to the programme's total notes issued, which now stands at ZAR118.48 billion. The newly issued notes have a nominal value of ZAR200 million and a coupon rate that can be converted from floating to fixed rates, providing investors with flexibility.

Key Takeaways:

  • The SBC197 Senior Unsecured Floating Rate Notes have a maturity date of January 31, 2037, and a nominal value of ZAR200 million.
  • The notes are part of the Standard Bank of South Africa Limited's Structured Note Programme, which has a programme size of ZAR150.00 billion and has issued a total of ZAR118.48 billion in notes.
  • The notes have a coupon rate that can be converted from floating to fixed rates, with a fixed rate of 11.03 percent per annum applying after conversion.
  • The floating rate notes will utilize the three-month ZAR-JIBAR-SAFEX rate plus an additional 2.03 percent, payable quarterly, until July 31, 2030.
  • The placement agent for the issuance is the Standard Bank of South Africa Limited, and the notes will be deposited in the Central Depository for electronic settlement.
  • The debt security is not subject to any guarantee, security, or credit enhancement, and investors should review the Pricing Supplement for detailed terms and conditions.
  • The designated market category for this listing is debt securities.

Statistics:

  • Programme size: ZAR150.00 billion
  • Total notes issued: ZAR118.48 billion
  • Nominal value of new notes: ZAR200 million
  • Maturity date: January 31, 2037
  • Issue date: August 21, 2025
  • Coupon rate (floating rate): three-month ZAR-JIBAR-SAFEX + 2.03 percent
  • Coupon rate (fixed rate): 11.03 percent per annum
  • Interest determination dates: quarterly on January 31, April 30, July 31, and October 31
  • First interest payment date: October 31, 2025

Sources:

  • Johannesburg Stock Exchange (JSE)
  • Standard Bank of South Africa Limited's Structured Note Programme

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