Absa CIB arranged Treasury’s R11.8bn infrastructure bond
Absa Corporate and Investment Banking (CIB) acted as sole lead arranger and infrastructure finance structuring agent for the National Treasury’s R11.8-billion Infrastructure and Development Finance Bond, which was issued this week to support projects under the Government’s Budget Facility for Infrastructure.
The transaction was executed under the Domestic Multi-Term Note Programme and comprised two senior unsecured fixed-rate tranches, the RI2036 and RI2041, both offering semi-yearly coupon payments.
“Infrastructure investment is foundational to South Africa’s long-term economic and social development. This transaction strengthens the alignment between capital markets and the country’s infrastructure priorities by enabling funding to flow towards nationally significant projects.
“We are pleased to support this milestone transaction and to contribute Absa CIB's structuring expertise to the development of infrastructure-focused financing in South Africa,’’ Absa CIB interim head of sustainable finance Koketso Morakile said in a December 10 statement.
“This transaction demonstrates how capital markets can be used deliberately to advance national development priorities. Our role was to ensure the instrument was technically sound, appropriately benchmarked and able to clear efficiently in the auction environment,” Absa CIB head of South Africa debt capital markets Marcus Veller added.
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