Published: June 7, 2013
City of Tshwane issues third bond this year.
The City of Tshwane Metropolitan Municipality, which contains South Africa’s capital Pretoria, has secured ZAR750mn (US$75.5mn) with a 15-year bond. The funds will go towards the city’s capital expenditure programme.
The paper, which comes with a coupon of 9.46%, is the third to be placed by the City of Tshwane in this year. In March it raised ZAR1.39bn through two bond issues with maturities of 10 and 15 years. Standard Bank was sole bookrunner and lead arranger.