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Securities law

Thekwini Fund 17 (RF) Limited Interest Rate Reset

Strategic Insights

— 2 min read

The Johannesburg Stock Exchange announced that the interest rate for The Thekwini Fund 17 (RF) Limited Notes will be reset on May 21, 2025. The new interest rates will be applicable for the interest period from May 21, 2025, to August 21, 2025. The reset interest rates vary across different classes of notes, with some floating rate notes experiencing increases and decreases. The fixed rate notes will also see changes in interest rates. The debt sponsor for these notes is The Standard Bank of South Africa Limited.

Key Takeaways:

  • The interest rate reset for The Thekwini Fund 17 (RF) Limited Notes will be implemented on May 21, 2025, affecting various classes of notes.
  • The new interest rates for floating rate notes will be applied as follows: Class A21: 8.908%, Class A22: 8.808%, Class A23: 8.908%, Class A14: 8.698%, Class B1: 9.358%, Class B2: 9.208%, Class B3: 9.158%, Class C1: 9.718%, Class C2: 9.488%, Class C3: 9.458%, Class D1: 11.558%, Class D2: 11.188%, Class D3: 10.958%.
  • The fixed rate notes will see the following interest rates: Class A31: 7.210%, Class A32: 7.720%.
  • The JIBAR rate for the interest period was fixed at 7.458% on May 21, 2025.
  • The Standard Bank of South Africa Limited is the debt sponsor for these notes.

Statistics:

  • Total amount of Class A21 Floating Rate Notes: R 93,600,000.00
  • Total amount of Class A22 Floating Rate Notes: R 1,005,000,000.00
  • Total amount of Class A23 Floating Rate Notes: R 364,000,000.00
  • Total amount of Class A14 Floating Rate Notes: R 613,308,041.00
  • Total amount of Class B1 Floating Rate Notes: R 107,000,000.00
  • Total amount of Class B2 Floating Rate Notes: R 125,000,000.00
  • Total amount of Class B3 Floating Rate Notes: R 35,000,000.00
  • Total amount of Class C1 Floating Rate Notes: R 80,000,000.00
  • Total amount of Class C2 Floating Rate Notes: R 90,000,000.00
  • Total amount of Class C3 Floating Rate Notes: R 30,000,000.00
  • Total amount of Class D1 Floating Rate Notes: R 74,000,000.00
  • Total amount of Class D2 Floating Rate Notes: R 82,000,000.00
  • Total amount of Class D3 Floating Rate Notes: R 28,000,000.00

Sources:

  • The Thekwini Fund 17 (RF) Limited, Johannesburg Stock Exchange
  • The Standard Bank of South Africa Limited

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