Unprecedented international demand for Absa’s dollar bond issuance
The success of the offering concluded last week could open the doors for other local banks to raise money offshore
25 May 2021 - 12:05
Global money managers have piled into a first-of-its kind dollar denominated debt offering concluded by Absa last week, which has given another ringing endorsement of the country’s banking system and may pave the way for issuances by other local banks.
On Thursday last week, Absa became the first African bank to undertake a “hybrid” bond issuance, when it looked to raise $400m from international investors. The bonds pay a fixed coupon (interest rate) and count towards capital reserves...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.