South Africa sells ZAR 2.35bn in 2023, 2037, 2041 T-bonds, yields rise

By bne IntelliNews August 13, 2013

South Africa borrowed on Tuesday (August 13) a total of ZAR 2.35bn (EUR 178mn) through the sale of three fixed-rate government bond issues, in line with target, data from the central bank showed. Yields rose from the previous auctions.

The central bank sold ZAR 1bn of its R2023 bond issue, which bears an annual coupon of 7.75% and matures on Feb 28, 2023, at a yield of 7.88%, up from 7.86% at the previous auction of the issue, held on July 30. The bond attracted bids worth ZAR 2.47bn, by 39% less than at the previous auction.

The central bank sold also ZAR 350mn of its R2037 bond issue, which matures on Jan 31, 2037 and bears an annual coupon of 8.5%. It attracted bids worth ZAR 1.11bn, by 21% more than at the last week’s auction, and was sold at a yield of 9.28%, up from 9.11%.

The central bank sold also ZAR 1bn of its R214 bond, which carries an annual coupon of 6.5% and matures on Feb 28, 2041, at a yield of 9.39%, up from 8.85% at the previous auction on July 16. Bids worth ZAR 1.66bn were received, up 16% from the previous auction.

  R2023, Feb 28, 2023, 7.75% coupon R2023, Feb 28, 2023, 7.75% coupon R2037, Jan 31 2037, 8.5% coupon R2037, Jan 31 2037, 8.5% coupon R214, Feb 28, 2041, 6.5% coupon R214, Feb 28, 2041, 6.5% coupon
Auction date 13-Aug-13 30-Jul-13 13-Aug-13 6-Aug-13 13-Aug-13 16-Jul-13
Total amount allocated (ZAR mn)           1,000         1,000              350            350          1,000            850
Total bids received (ZAR mn)           2,470         4,055          1,110            920          1,660         1,380
Bid-to-cover ratio 2.47 4.06 3.17 2.63 1.66 1.62
Lowest bid 7.80% 7.79% 9.22% 9.03% 9.17% 8.68%
Highest bid 8.30% 8.15% 9.70% 9.25% 9.85% 9.07%
Clearing yield 7.88% 7.86% 9.28% 9.11% 9.39% 8.85%
Source: South African Reserve Bank          
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Nigeria set to approve Seplat's acquisition of ExxonMobil assets within two weeks

The Nigerian government is poised to greenlight ExxonMobil's $1.28bn asset sale to Seplat Energy within the next two weeks, pending resolution on critical issues related to decommissioning and host ... more

Atlantic Lithium approved to list on Ghana Stock Exchange (GSE)

Atlantic Lithium Ltd., an African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, has been approved to list on the Ghana Stock Exchange (GSE), ... more

Uncut diamond giant Alrosa must sell stake in Angola's Catoca, Russian deputy FM says

Russian uncut diamond major Alrosa will have to sell its stake in Angola's Catoca diamond mining company owing to the latter's concerns about the prospects for collaborating with the sanctioned ... more

Follow Us On

Most Read

  1. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    4 days ago
  2. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    10 days ago
  3. COMMENT: Aliyev continues to block the chance of peace in the South Caucasus
    7 days ago
  4. RAGOZIN: Exhausting Russia, strategies and fantasies
    3 days ago
  5. Russia is producing weapons at a record pace, and Ukraine’s partners are trying to increase support for Kyiv
    5 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    2 years ago
  2. Saudi Arabia to scale back plans for Neom city
    26 days ago
  3. Iran vs Israel: Who is better equipped for war?
    23 days ago
  4. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    27 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    6 months ago

Reports

Dismiss