JSE Sens
LISTING OF NEW FINANCIAL INSTRUMENT - IPFG01
2021/04/21 15:59:00Download PDF Stock report
LISTING OF NEW FINANCIAL INSTRUMENT - IPFG01
Investec Property Fund Limited
Approved as a REIT by the JSE
(Incorporated in the Republic of South Africa)
(Registration Number 2008/011366/06)
Bond code: INV
ISIN: ZAE000180915
(“Investec Property Fund”, “IPF” or “the Fund”)
LISTING OF NEW FINANCIAL INSTRUMENT
The JSE Limited has granted a listing to Investec Property Fund Limited - Issue IPFG01 due 22 June 2024 in
terms of its Domestic Medium Term Note Programme dated 4 June 2019.
IPF is the first South African REIT to issue an unsecured sustainability-linked note. The Fund elected to
upsize the note from R500 million to R800 million driven by demand for this unique offering.
The unsecured note of R800 million provided an opportunity to raise capital at a competitive coupon rate
and to further unencumber the balance sheet. In addition, IPF will benefit from a reduction in the coupon
rate of 10 basis points if certain pre-agreed performance targets are achieved in respect of renewable
energy and green buildings by 30 June 2022. The note issuance demonstrates the Fund’s commitment to
the environmental, social and governance (“ESG”) principles and its efforts to promote good corporate
citizenship.
The proceeds from the note will be used to refinance debt maturities and will have no impact on IPF loan
to value ratio.
Debt security code IPFG01
Nominal Issued R800,000,000
Issue Price 100%
Coupon 5.575% p.a. (3 Month JIBAR as at 19 Apr 2021 of 3.675% p.a.
plus 190 bps)
Coupon Rate Indicator Floating
Trade Type Price
Final Maturity Date 22 June 2024
Books Close Date 18 March, 18 June, 18 September, 18 December
Interest Payment Date(s) 22 March, 22 June, 22 September, 22 December
Last Day to Register 17 March, 17 June, 17 September, 17 December
Issue Date 22 April 2021
Date Convention Following
Interest Commencement Date 22 April 2021
First Interest Payment Date 22 June 2021
ISIN No. ZAG000175795
Additional Information Senior Unsecured, Unsubordinated
Total Notes in Issue Under Programme R4,265,000,000 exclusive of this issuance of notes
The Pricing Supplement does not contain any additional terms and conditions or changes to the terms and
conditions as contained in the Programme Memorandum. Investors should study the Applicable Pricing
Supplement for full details of the terms and conditions applicable to these Notes.
Johannesburg
21 April 2021
Debt Sponsor
Investec Bank Limited
Date: 21-04-2021 03:59:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.