Published: July 16, 2012
South African bank’s issuance is first dollar bond.
Investec Bank, a South African banking and asset management group, is to issue a US$300mn bond.
The unsecured, five-year bond was priced at 310 basis points over mid-swaps on a 3.875% coupon.
The bond’s global co-ordinator is HSBC, while Standard Chartered, the Royal Bank of Scotland, ING and Investec Bank are acting as bookrunners.
Investec Bank is rated A3 by Moody’s and BBB by Fitch.