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Nice one

21 July 2004 Angelo Coppola

(22.7.04) Barloworld Ltd R 1.5bn debut bond issue

Diversified industrial company, Barloworld Limited today launched a R1.5bn bond due 29 July 2011.

Barloworld's debut issue, was placed with a wide spread of domestic institutional investors.

"We are very pleased with the level of interest shown and the credit spread achieved on our inaugural bond," says Clive Thomson, Barloworld's Finance Director.

Orders for the bond totaled R4.5bn. The proceeds of the bond will be used to re-finance short term debt in South Africa.

The bond was launched at R153 plus a spread of 112 bps. The bond pays a fixed semi-annual coupon of 10.70 %.

The bond, listed on the Bond Exchange of South Africa, was placed by lead manager Standard Bank.

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