Marketing & Media trends

More Articles

Subscribe to industry newsletters


Oversubscribed Vukile bond issue attracts more than R2.1bn in bids

Vukile Property Fund recently issued R500m of senior unsecured corporate bonds with one- and three-year maturities. The issue was significantly oversubscribed, with the auction attracting bids of more than R2.1bn.
Laurence Rapp, CEO of Vukile
Laurence Rapp, CEO of Vukile
Three-year notes of R342m were placed at a margin of 185bps, better than guidance and favourably priced relative to recent issuances from the Reit sector. One-year notes of R158m were placed at a margin of 135bps, mid-guidance.

“We are delighted with the robust demand received and the positive pricing achieved, especially considering the uncertainty and challenges in the current macro-environment,” said Laurence Rapp, CEO of Vukile.

The issuance proceeds were used to repay VKE13, a R535m note which matured on 27 August.
Don't miss BizTrends2022 - 7 keynote speakers forecast trends shaping business in our region! Register now!

Let's do Biz