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Pinnacle - settlement of bond
Pinnacle commenced its R2 500 000 000 Domestic Medium Term Note Programme (“Programme”) on 19 April 2013. The first and only issue was note “PTH01” which was issued for R315,000,000 on 30 April 2013 with a 3 year redemption.
Holders of the PTH01 notes were advised on SENS on 28 April 2016 that, under the terms of the Programme, the Applicable Pricing Supplement (“APS”) dated 25 April 2013 and the amended APS dated 2 December 2014,
- the entire outstanding capital amount of R 315 000 000 will be redeemed; and
- the interest of 9.083% p.a. (210 bps over 3 month JIBAR of 6.983% p.a. at 1 February 2016) for the period 1 February 2016 to 2 May 2016 (“the Final Interest”) will be paid, on 3 May 2016.
Further details of the capital redemption and final interest payment are set out in the SENS announcement released on 28 April 2016. The settlement of the bond will be financed through a R500 Million structured funding programme with Nedbank.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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