Eswatini govt issues new R4bn bond programme on South Africa's JSE
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.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation