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Thekwini Fund 18 (RF) Limited Lists "T18A14" Floating Rate Notes on JSE

Strategic Insights

— 1 min read

The Johannesburg Stock Exchange (JSE) has listed Thekwini Fund 18 (RF) Limited's "T18A14" Floating Rate Notes due 21 August 2057. This follows the approval of the listing by The JSE Limited, which granted Thekwini 18 the listing of the notes issued in terms of its ZAR5,000,000,000 Asset Backed Note Programme dated on or about 22 September 2022.

The T18A14 Floating Rate Notes have a total outstanding amount of ZAR2,665,000,000, excluding the new issue. Key details of the notes include a nominal issued amount of ZAR996,000,000, a coupon rate of 8.137%, and a final redemption date of 21 August 2057. The interest payment dates are 21 February, 21 May, 21 August, and 21 November of each calendar year.

Key Takeaways:

  • The T18A14 Floating Rate Notes are listed on the JSE, with a total outstanding amount of ZAR2,665,000,000, excluding the new issue.
  • The notes have a nominal issued amount of ZAR996,000,000, a coupon rate of 8.137%, and a final redemption date of 21 August 2057.
  • Interest payment dates for the notes are 21 February, 21 May, 21 August, and 21 November of each calendar year.
  • The notes have a rating of Aaa.za (sf) by Moody's Investors Service.
  • The placement agent for the notes is The Standard Bank of South Africa Limited, and the debt sponsor is also The Standard Bank of South Africa Limited.
  • The notes will be deposited in the Central Depository ("CSD") and settle electronically in terms of JSE Rules.

Statistics:

  • The total outstanding amount of the T18A14 Floating Rate Notes, excluding the new issue, is ZAR2,665,000,000.
  • The nominal issued amount of the T18A14 Floating Rate Notes is ZAR996,000,000.
  • The coupon rate of the T18A14 Floating Rate Notes is 8.137%.
  • The final redemption date of the T18A14 Floating Rate Notes is 21 August 2057.
  • The interest payment dates for the T18A14 Floating Rate Notes are 21 February, 21 May, 21 August, and 21 November of each calendar year.

Sources:

  • JSE Limited, New Financial Instrument Listing Announcement (20 August 2025)
  • Thekwini Fund 18 (RF) Limited, "T18A14" Floating Rate Notes Prospectus (22 September 2022)

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