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

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.