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INVESTEC BANK LIMITED - New Financial Instrument Listing Announcement IBL316

Release Date: 10/03/2025 16:45
Code(s): IBL316     PDF:  
Wrap Text
New Financial Instrument Listing Announcement – IBL316

Investec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1969/004763/06)
Issuer code: BIINLP
LEI No: 549300RH5FFHO48FXT69

New Financial Instrument Listing Announcement – IBL316

Application has been made to the JSE Limited ("JSE") for the listing of R250,000,000 (two
hundred and fifty million Rand) Senior Unsecured Mixed Rate Notes (stock code IBL316),
under Investec Bank Limited's Domestic Medium-Term Note and Preference Share
Programme dated 17 March 2021.

The IBL316 Notes will be issued to Noteholders on the date of listing being
12 March 2025 with effect from commencement of trade.

Salient features of the IBL316 Notes are listed below:

Issuer                                                   Investec Bank Limited

Instrument                                               Senior Unsecured Notes

Issue Date                                               12 March 2025


Aggregate Nominal Amount                                 R250,000,000 (two hundred and
                                                         fifty million Rand)

Nominal Amount per Note                                  R1,000,000 (one million Rand) as at
                                                         the Issue Date

Interest Rate                                            The Note will be

                                                         (a) Fixed Rate Notes for the period
                                                         from and including the Issue Date to
                                                         but excluding the Interest Payment
                                                         Date of 12 March 2026 (as adjusted
                                                         in accordance with the applicable
                                                         Business Day Convention) paying
                                                         8.34% naca; and

                                                         (b) Floating Rate Notes for the
                                                         period from and including the
                                                         Interest    Payment     Date    of
                                                         12 March 2026 (as adjusted in
                                                         accordance with the applicable
                                                         Business Day Convention) to but
                                                         excluding the Maturity Date paying
                                                         Reference Rate plus margin of
                                                         0.975%.

Reference Rate                                           ZAR-JIBAR-SAFEX           with     a
                                                         Designated Maturity of 3 months or,
                                                         if ZAR-JIBAR-SAFEX ceases to be
                                                         the approved Reference Rate, the
                                                         replacement      Reference     Rate
                                                         (together with a spread (if
                                                         applicable)) determined by the
                                                         Calculation Agent in its sole
                                                         discretion taking into account
                                                         prevailing market practice and any
                                                         spread      published       by     a
                                                         governmental authority or industry
                                                         body and notified to the Noteholders
                                                         in accordance with Condition
                                                         19 (Notices)

Interest Determination Date                              In respect of Floating Interest Rate
                                                         Notes, 12 March 2026 (as adjusted
                                                         in accordance with the applicable
                                                         Business Day Convention) and
                                                         every Interest Payment Date
                                                         thereafter

Maturity Date                                            12 March 2027 (as adjusted in
                                                         accordance with the applicable
                                                         Business Day Convention)

Issue price per Note                                     100%

Final Redemption Amount per Note                         The Nominal Amount per Note (plus
                                                         accrued unpaid interest, if any, up
                                                         to, but excluding, the Maturity Date)

Early Redemption Amount                                  The aggregate outstanding Nominal
                                                         Amount (plus accrued interest, if
                                                         any, up to, but excluding, the
                                                         Applicable Redemption Date)

Interest Commencement Date                               12 March 2025

Books Close Dates                                        The Register will be closed from
                                                         (i) 2 March 2026 to 12 March 2026
                                                             in relation to the Fixed Rate Notes
                                                             and 2 March to 12 March, 2 June to
                                                             12 June, 2 September to
                                                             12 September and 2 December to
                                                             12 December for the Floating Rate
                                                             Notes, (including the first day but
                                                             excluding the last day in each such
                                                             period)     until   the   Applicable
                                                             Redemption Date, or
                                                        (ii) 10 days prior to, but excluding,
                                                             any Payment Day

Last Day to Register                                     1 March 2026 for the Fixed Rate
                                                         Notes and 1 March, 1 June, 1
                                                         September and 1 December of each
                                                         year for the Floating Rate Notes, or
                                                         if any such day is not a Business
                                                         Day, the Business Day before each
                                                         Books Closed Period, or, if item (ii)
                                                         above is applicable, the last
                                                         Business       Day      immediately
                                                         preceding the commencement of
                                                         the Books Closed Period

Interest Payment Dates                                   means in relation to the Fixed Rate
                                                         Notes, 12 March 2026 and in
                                                         relation to the Floating Rate Notes,
                                                         12 March, 12 June, 12 September
                                                         and 12 December provided that, if
                                                         any such day is not a Business Day,
                                                         the Business Day on which interest
                                                         will be paid, will be as determined in
                                                         accordance with the applicable
                                                         Business Day Convention

Business Day Convention                                  Following Business Day

JSE Stock Code                                           IBL316

ISIN                                                     ZAG000213471

Aggregate Nominal Amount of Notes Outstanding            ZAR43 435 421 616 (forty-three
in the Series including this issuance but excluding      billion four hundred and thirty five
all other issuances on this Issue Date                   million four hundred and twenty one
                                                         thousand six hundred and sixteen
                                                         Rand)
The Pricing Supplement does not contain any
additional terms and conditions or changes to the
terms and conditions as contained in the
Programme Memorandum

Investors should study the Applicable Pricing
Supplement for full details of the terms and
conditions applicable to these Notes

Date: 10 March 2025

Debt Sponsor:
Investec Bank Limited
Bongani.Ntuli@investec.co.za

Date: 10-03-2025 04:45:00
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