Issued by: Ministry of Finance
MINISTRY OF FINANCE MEDIA RELEASE BY CHRIS LIEBENBERG, MINISTER OF FINANCE 23 JANUARY 1996
THE REPUBLIC OF SOUTH AFRICA LAUNCHES A 100 MILLION EUROSTERLING BOND ISSUE
I am pleased to announce that the Republic of South Africa has successfully launched a 100 million Pound Sterling (R560 million) Eurosterling Bond issue. These Bonds have a maturity of 10 years and carry a fixed interest rate of 9.375%, an issue price of 99.284% and a consequent re-offer yield of 9.489%. This represents a spread of 190 basis points over the 10 year UK Government benchmark Gilt.
This offering, which is the first Eurosterling bond issue of the Republic since the mid-1980's, should be seen as another important step in re-introducing South Africa to the international financial institutions and 2 South African banks, Nedcor and Standard Bank.
The issue will be listed on the London Stock Exchange.
For further information please contact: Maria Ramos, Department of Finance Tel: (44) (171) 7113520 Christo Roets, Department of Finance Tel: (44) (171) 7113520
Richard Luddington, J P Morgan Tel: (44) (171) 7792433 Patrick O'Brien, SRC Warburg Tel: (44) (171) 7112265