Following the successful inward listed bond issuance completed by the Republic of Namibia in November 2012, Bank Windhoek Limited has announced the issue of R600 million senior unsecured floating rate bonds. This is the debut issuance of Bank Windhoek in South Africa under their ZAR 5 billion / NAD 5 billion medium term funding programme.
Investec Bank Limited, through its division, Investec Corporate and Institutional Banking acted as lead arranger and manager for the issuance, assisted by PSG Capital (Proprietary) Limited acting as co-arranger and manager.
"The well-developed South African debt capital market is ideally placed for African sovereigns, institutional and corporate issuers to raise money given the focus from South African based institutional investors on the African growth story,” explains Louis Dirker of Investec Corporate and Institutional Banking.
It was as a result of the positive response from the market with R1,5 billion bids received for the bonds on auction date, that Bank Windhoek increased the issuance size from R500 million to R600 million.
The bonds were inwardly listed on the interest rate market of the Johannesburg Stock Exchange (JSE) on 19 November 2013 and are scheduled to mature on 19 November 2018.
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