The Republic of South Africa has successfully issued US$3.5 billion in bonds maturing in 2036 (12- year) and 2054 (30-year) in the international capital markets on 12 November 2024, with US$2 billion and US$1.5 billion placed in the 2036 and 2054 maturities, respectively.
The 12-year bond and the 30-year bond priced at a coupon and re-offer yield of 7.1 per cent and 7.95 per cent, respectively. The final yields reflect a tightening of 30 basis points from Initial Price Thoughts across the 12-year and 30-year bonds.
The Republic South African is pleased to have attracted a wide investor base from multiple jurisdictions including the United Kingdom, North America, Europe, Asia, Africa and other regions, which it views as an expression of continued investor confidence in the country's sound macro- economic policy framework and prudent fiscal management.
The transaction attracted an orderbook in excess of US$8.6 billion (2.5 times oversubscribed) which underscores the strong support for the transaction.
With respect to investor profile, demand came from a combination of Fund Managers, Insurance and Pension Funds, Hedge Funds, Banks and other Financial Institutions.
The National Treasury mandated Citigroup Global Markets Limited and Goldman Sachs International as Joint Bookrunners. The empowerment partners for the respective banks were Crede Capital Partners and Vunani Capital Proprietary Limited.
For media enquiries please email Media@treasury.gov.za
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