Chicago, Oct. 6 – Old Mutual Life Assurance Co. (South Africa) Ltd. sold ZAR 1.5 billion of five-year floating-rate subordinated notes (ZaA+), according to a stock exchange announcement.
The coupon is based on Jibar plus 154 basis points. The initial rate is 5.215%.
The notes are being issued under the ZAR 25 billion multi-issuer note program.
Parent Old Mutual Ltd. is guarantor on the notes.
Nedbank Ltd. is listed as dealer.
Old Mutual is a London-based financial services company.
| Issuer: | Old Mutual Life Assurance Co. (South Africa) Ltd.
|
| Guarantor: | Old Mutual Ltd.
|
| Issue: | Unsecured subordinated floating-rate notes
|
| Amount: | ZAR 1.5 billion
|
| Maturity: | Sept. 23, 2026
|
| Bookrunner: | Nedbank Ltd.
|
| Coupon: | Jibar plus 154 bps
|
| Pricing date: | Sept. 22
|
| Listing date: | Sept. 23
|
| Rating: | S&P: ZaA+
|
| Distribution: | Dutch auction
|
| ISIN: | ZAG000179680
|
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