Published: May 24, 2013
Ekurhuleni Metropolitan Municipality secures ZAR800mn through amortising bond.
South Africa’s Ekurhuleni Metropolitan Municipality has raised ZAR800mn (US$83mn) through a 15-year amortising bond to pay for its capital infrastructure programme.
Fifteen investors took the order book to ZAR1.2bn. Rand Merchant Bank and Basis Points Capital arranged the deal.
A regular issuer in the local debt capital markets, the municipality has raised some ZAR2.4bn during the past three years.