MONDAY, 11.00AM
THE Development Bank of Southern Africa released a R5-billion, 30-year, zero-coupon eurorand bond issue on Friday.
The deal, led by underwriters Hambros Bank and Rand Marchant Bank, is the first with an explicit guarantee by the SA government.
The offer attracted strong interest, according to a syndicate official at Hambros. Zero-coupon bonds in rands continue to attract investors because they offer high leverage.
BUSINESS BRIEFS
AMPLATS ACCESS DEAL ANGLO American Platinum Mines on Friday signed an agreement with the Mouth Peace Workers’ Union granting it access to Amplats mines, and allowing it to hold meetings and have representation on the mines. The deal follows months of conflict beween Mouth Peace and members of the National Union of Mineworkers, in which several NUM officials have been murdered.
WATER LOAN SIGNED A R1,3-billion loan agreement has been struck for construction of phase 1B of the Lesotho Highlands Water Project. The banks involved in the deal, signed on Friday in Maseru, are Rand Merchant Bank, Societe Generale, Nedcor, Investec and Lesotho Bank. The loans will cover construction costs, social and environmental proigrammes and administrative expenditure.