The National Treasury has appointed Rand Merchant Bank, ABSA/Barclays, and Citi Bank as joint-lead managers and Investec as co-lead manager to arrange the issuance of a foreign currency denominated bond. The bond will form part of the government’s financing of its foreign currency commitments as stipulated in the Budget 2014 document.
The process of issuing a Sukuk remains in place as a medium-term project to access a new investor base.
