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Absa Capital and Barclays Capital Lead RSA’s first international bond issuance of 2012  

 1/10/2012 
Absa Capital and Barclays Capital , the corporate and investment banking divisions of Absa Bank Ltd and Barclays PLC respectively, and Vunani Capital acted as Joint Bookrunners for South Africa’s first international bond issuance of 2012.

The Republic of South Africa (rated A3 Negative by Moody’s / BBB+ Stable by S&P / BBB+ Stable by Fitch) issued a $1,5 billion 12-year bond with a yield of 4,665% representing the country’s lowest ever USD coupon rate. The issuance was 2x oversubscribed with orders from over 200 international fixed income investment managers.

“The Republic of South Africa garnered substantial investor interest, despite six other emerging market issuers also attempting to access the market on the same day,” said Stephen van Coller, Chief Executive of Absa Capital.

South Africa’s issuance effectively re-opened the Central Eastern Europe, Middle East and Africa sovereign debt market with the first benchmark transaction in 2012.

“The overwhelming success of this transaction, amidst ongoing market volatility, speaks to investor comfort and continued appetite for South African credit,” said van Coller.

“We are proud to have been selected to partner with the National Treasury on this important funding exercise,” concluded van Coller.

Ends

Note to the editor:

About Absa Capital

Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays Capital, is a leading South African corporate and investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.

Issued by:
FTI Consulting
Lauren Thys
+27 11 214 2420
+27 82 309 0788
lauren.thys@fticonsulting.com

For further information contact:
Graeme Coetzee
Associate Principal
Marketing and Corporate Communications
Absa Capital
+27 11 895 6695
+27 79 695 9798
graeme.coetzee@absacapital.com
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