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VENDETTA - MALARIA. Great initiative - keep us posted  (Jul 1, 2011 | post #14)

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Johannesburg, South Africa Issues R850m Bond Johannesburg - Standard Bank Group [JSE:SBK] has successfully issued an R850m, 10-year bond for the AA- rated City of Johannesburg at 195 basis points over the underlying government bond. Andrew Costa, head debt capital markets at Standard Bank corporate and investment banking, said it is "delighted " with the success of the bond issue. "It was a difficult time for a municipality to issue, given the quantum of issuance in the bond market at the moment especially with the big banks who have issued approximately R15bn already this year." An added factor is the pending municipal elections. "However, investors have found comfort in the quality and price of the paper issued, the track record of management and the future potential of this city." The bond, a senior unsecured fixed rate bond paying a coupon of 10.78%, was issued on Wednesday within the price guidance provided to the market. "We have a long history of innovation with the City of Johannesburg, having partnered with them to establish the first municipal Domestic Medium-Term Note Programme in 2005, the first listed municipal Retail Bonds in 2007 and the first municipal commercial paper issuance (paper with a duration of under 12 months) in 2009. "We were very happy to partner with them again on this bond issue," said Costa.  (Mar 23, 2011 | post #3)

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Jo'burg Issues R850m Bond

Johannesburg - Standard Bank Group [JSE:SBK] has successfully issued an R850m, 10-year bond for the AA- rated City of Johannesburg at 195 basis points over the underlying government bond. Andrew Costa, head debt capital markets at Standard Bank corporate and investment banking, said it is "delighted " with the success of the bond issue. "It was a difficult time for a municipality to issue, given the quantum of issuance in the bond market at the moment especially with the big banks who have issued approximately R15bn already this year." An added factor is the pending municipal elections. "However, investors have found comfort in the quality and price of the paper issued, the track record of management and the future potential of this city." The bond, a senior unsecured fixed rate bond paying a coupon of 10.78%, was issued on Wednesday within the price guidance provided to the market. "We have a long history of innovation with the City of Johannesburg, having partnered with them to establish the first municipal Domestic Medium-Term Note Programme in 2005, the first listed municipal Retail Bonds in 2007 and the first municipal commercial paper issuance (paper with a duration of under 12 months) in 2009. "We were very happy to partner with them again on this bond issue," said Costa.  (Mar 23, 2011 | post #1)

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