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JD Group raises R1bn in corporate bond issuance

2 Nov 2012

JD Group has successfully completed its debut bond issuance for R1 billion.

The notes were issued off JD Group Limited's recently registered R8 billion note programme with the JSE Interest Rate Market.

The corporate bond issuance‚ which was over-subscribed‚ comprised a R1 billion 3-year floating-rate note (code JDG01) with a credit spread of 1.83% over the 3 month Jibar rate‚ which is currently 5.075%.

"We committed to the market that we would launch our debut debt capital market issuance towards the end of this year.

"We are pleased to confirm that we have issued a benchmark size bond of R1 billion effective 30 October 2012.

The credit spread was also at the low end of the pricing guidance provided to the market ahead of the auction." says Ian Thompson‚ Director- Finance and Corporate Affairs at JD Group.

Rand Merchant Bank and Standard Bank acted as joint lead arrangers on this issuance.

Source: I-Net Bridge

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