“The Bank raised a total of N$700 million and the success of the issue continues to underscore Standard Bank’s commitment to the local market and the confidence the local market has in our Group,” Standard Bank’s Head of Treasury Neville Beckmann said.
The latest bond issuance forms part of the Bank’s general term funding which was raised included N$500 million for five years to 18 investors, N$100 million for three years to two investors and another N$100 million for two years to for a single investor by Negotiable Certificate of Deposit.
The latest 5-Year bond issuance by Standard Bank comes just eight months after the successful partnership that the Bank had with the Namibian Government on its second Eurobond issuance in international markets.
On the 29th of October last year, Standard had acted as a Joint Lead Manager and Book runner on the transaction. The US$750m, 10 year transaction, issued in 144A / Reg S format was tightly priced at a yield of 5.375%. The notes were rated Baa3 and BBB- by Moody’s and Fitch respectively.