https://newsletter.en.creamermedia.com
Africa|Infrastructure|Power|Projects|Roads|Infrastructure
Africa|Infrastructure|Power|Projects|Roads|Infrastructure
africa|infrastructure|power|projects|roads|infrastructure

Eswatini govt issues new R4bn bond programme on South Africa's JSE

The JSE logo on a class door

Photo by Creamer Media

21st May 2024

By: Creamer Media Reporter

     

Font size: - +

The Eswatini government has, through Absa Bank, recently issued a R4-billion bond programme on the JSE's debt board.

This new issuance is the latest bond to list under the Protea Bonds segment, which includes rand-denominated bond issuances by foreign governments on the JSE.

Eswatini’s first R400-million bond under the programme was issued at a yield to maturity of 11.875% a year and a maturity period of three years. The unsecured fixed rate notes programme involves an initial auction which took place on May 8 and will mature on May 8, 2027.

The listing on the JSE will provide investors with a convenient and transparent platform to trade and invest in Eswatini’s Protea Bond.

The bond issuance marks an important step in supporting regional African development through the local bond market.

“The listing on the JSE represents a key milestone for the government of the Kingdom of Eswatini and provides an opportunity for the kingdom to introduce itself to the international investment community. This programme will help us diversify our funding sources, contribute to regional economic integration initiatives and raise the necessary capital required for us to meet our infrastructure and developmental needs.

"Choosing to list in the South African market represents a demonstration of our confidence in the South African markets given our participation in the Common Monetary Area and strong economic links with South Africa,” says Eswatini Finance Minister Neal Rijkenberg.

“Sovereign bonds are an important tool for governments to raise funds for large and critical capital projects such as roads, power stations and hospitals. We are thrilled that the government of the Kingdom of Eswatini identified the JSE as the capital raising venue of choice, and we believe this issuance will enable the issuer to diversify its debt portfolio and access alternative funding,” adds JSE Capital Markets director Valdene Reddy.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 22 November 2024
Magazine round up | 22 November 2024
22nd November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.088 0.184s - 193pq - 2rq
Subscribe Now