1 September 2007
The National Treasury through the Asset and Liability Management Division
wants to notify bond holders that they are able to split their R153 � 13,0%
2009/10/11 Government Bond holdings into three new series of bonds from 1
September 2007. The split option is in line with decisions previously made by
the National Treasury with regard to the R144, R147, R150 and R194 three legged
government bonds.
The National Treasury would like to stress that the R153 bond split is
totally optional. This will be available until the books closed date, which is
10 days prior to the first leg's maturity date of 31 August 2009. Thereafter
all outstanding R153 bonds will automatically split, as per terms and
condition.
If holders opted to split their holdings in the R153 bond, they may surrender
their holdings as from 1 September 2007 for replacement. The following new
bonds, which total the original nominal value of their holding, will replace
the R153 benchmark bond:
R008 � 13,0% IRB 2009, redeemable 31 August 2009
R154 � 13,0% IRB 2010, redeemable 31 August 2010
R155 � 13,0% IRB 2011, redeemable 31 August 2011
If a holding in the R153 bond is not fully devisable by one third, the R008
and R155 bonds will be rounded to the nearest one rand, with the balance being
added to the middle trench, R154 bond. One third of the nominal amount, rounded
off to the nearest R1,00 will be redeemed on 31 August 2009, after which the
remaining two-thirds will be split amongst the R154 and R155 bonds as explained
above.
Holders with electronic holdings at Share Transactions Totally Electronic
(STRATE) are requested to contact their settlement agents to affect the split
on their behalf.
Holders of certificates in the R153 bond are requested to surrender their
certificates for splitting, by registered mail:
The Division Head
Asset and Liability Management Division
National Treasury
Private Bag X115
Pretoria
0001
Hand delivery to:
Asset and Liability Management Division
National Treasury
c/o Andries and Vermeulen Streets
240 Vermeulen Street
14th Floor, Room 1403
Pretoria
A separate letter, to holders of the R153 bond who opted not to split, will
be sent three months prior to the first redemption date of the R153 bond, 31
August 2009, to explain the redemption procedures for their bonds holdings.
For any information required, please contact:
Susan Scheepers
Tel: 012 315 5273
Johan Krynauw
Tel: 012 315 5274
Issued by: National Treasury
1 September 2007
Source: National Treasury (http://www.treasury.gov.za)
