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Name | Symbol | Market | Type |
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Morgan St. 30 | LSE:66ZZ | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS Number:2965B Standard Bank of South Africa Ltd 01 August 2007 FOREIGN CURRENCY TIER 2 NOTES ISSUE BY SBSA Standard Bank Group Limited, listed on the JSE Limited ("JSE"), whose major subsidiary is The Standard Bank of South Africa Limited ("SBSA"), today released an announcement related to a foreign currency tier 2 notes issue by SBSA, as required by the Listings Requirements of the JSE. The text of the announcement is as follows: "SBK: STANDARD BANK GROUP LIMITED - FOREIGN CURRENCY TIER 2 NOTES ISSUE BY SBSA Standard Bank Group Limited Incorporated in the Republic of South Africa Registration number: 1969/017128/06 JSE Share code: SBK Namibian Share code: SNB ISIN: ZAE000057378 The Standard Bank of South Africa Limited (SBSA) has privately placed $355 million sub-ordinated notes with US institutional investors. This is SBSA's inaugural foreign tier 2 capital issue. The notes are divided into a fixed rate tranche of $230 million issued at 140bps over 5 year US Treasuries and a floating rate tranche of $125 million issued at 88bps over LIBOR. The notes were issued as part of the bank's capital management programme. The bonds were placed by Banc of America Securities LLC and Standard New York Inc. Details of the bond issues are: Fixed rate tranche: - Closing Date: 31 July 2007 - Nominal: $230 million - Maturity Date: 31 July 2017 - Coupon: Fixed at 6.44% until and including 31 July 2012, thereafter floating at 3-month LIBOR plus 188bps until maturity - Issuer's call: 31 July 2012 or any interest payment date thereafter at the nominal amount, subject to the prior written approval by the Registrar of Banks - Status: Subordinated, qualifying Tier 2 capital notes - Law: New York - Placement Agents: The Banc of America Securities LLC and Standard New York Inc. - The notes are not listed Floating rate tranche - Closing Date: 31 July 2007 - Nominal: $125 million - Maturity Date: 31 July 2017 - Coupon: Floating at 3-month LIBOR rate plus 88bps until and including 31 July 2012, thereafter floating at 3-month LIBOR plus 188bps until maturity - Issuer's call: 31 July 2012 or any interest payment date thereafter at the nominal amount, subject to the prior written approval by the Registrar of Banks - Status: Subordinated, qualifying Tier 2 capital notes - Law: New York - Placement Agents: The Banc of America Securities LLC and Standard New York Inc - The notes are not listed For further information please contact: Norbert Hoffmann, Director, Group Capital Management, Tel: +27 11 636 3712; E-mail: norbert.hoffmann@standardbank.co.za Simon Ridley, Chief Financial Officer, Tel: +27 11 636 3756; E-mail: simon.ridley@standardbank.co.za Sponsor Standard Bank" This information is provided by RNS The company news service from the London Stock Exchange END IODOKDKQCBKKPFK
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