DEALS Innovative execution for South African clients built on global insight Absa | Corporate and Investment Banking > Insights and Events > Innovative execution for South African clients built on global insight SHARE We are proud to have advised the Republic of South Africa in successfully raising USD3.0bn in international bond markets. On 11 April 2022, Absa advised the Republic of South Africa in successfully raising USD3.0bn in the international bond markets, acting as Joint Lead Manager and Bookrunner. This landmark transaction marked the South African sovereign’s first return to market since 2019. The transaction comprised 10yr bonds to the value of USD1.4bn, yielding 5.875%, and 30yr bonds to the value of USD1.6bn, yielding 7.30%. Working alongside other banks, we assisted in formulating the execution strategy, preparing the required documents and coordinating the relevant parties. Absa’s SA, UK and US Sales teams were fully engaged with investors in each region and despite broader challenging conditions, managed to close the final order book at c.USD6.9bn, representing an oversubscription of 2.3 times. The order book quality was high, with the >75% allocated to real money accounts, with particular support from our teams in the UK and US. We believe in the potential of South Africa, and with our global expertise, we aim to provide innovative solutions that address local needs. We continue to trade the bonds in the secondary market, facilitating trade for our issuers as part of our overall market responsibility. The bravery to imagine and the will to get things done. That’s Africanacity. Find out more about our Debt Capital Markets Solutions Contact us https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles POWER, UTILITIES & INFRASTRUCTURE INSIGHTS A reform of the Logistics sector is critical for SA economy As we review the national budget for 2024, one of the key pieces of the economic growth puzzle is the logistics sector in our country. Read more EVENTS Beyond the Budget 2024 There is untapped potential in the development of Africa’s logistics and transport infrastructure. When the public and private sector collaborate strategically, we can promote inclusive growth that drives the continent towards a more sustainable future. Read more ESD INSIGHTS SERIES Ecosystem banking is key to develop ESD While access to finance is a key part in the support of Enterprise and Supplier Development (ESD) initiatives, a focus on broader “Ecosystem Banking” is critical to ensure the ongoing sustainability of initiatives. Read more
