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Nedbank CIB leads successful Attacq bond issuance
Nedbank CIB arranges an inaugural auction for Attacq Limited, securing strong investor appetite.
Nedbank Corporate and Investment Banking (CIB) is proud to announce the successful completion of Attacq Limited’s (Attacq's) inaugural bond issuance under its R5 billion Domestic Medium-Term Note (DMTN) Programme.
Key roles and responsibilities of Nedbank CIB
Nedbank CIB secured the prestigious mandate of sole lead arranger, enabling another first-time issuer in the real estate investment trust (REIT) sector to access the local debt capital markets in 2024. Nedbank CIB was also appointed in various agency roles on the programme, including debt sponsor and paying, settlement, transfer, calculation, and issuer agent.
The future outlook for Attacq in debt capital markets
Attacq is a leading South African property development and management company that delivers sustainable income and capital growth through a diverse retail, office, and industrial portfolio. Attacq is renowned for its strategic approach to property development and investment, with a strong emphasis on creating high-quality, mixed-use precincts, including Waterfall City.
After listing the DMTN Programme on the JSE and conducting an extensive roadshow, Nedbank CIB successfully facilitated a public bond auction that attracted R4.004 billion in bids, resulting in an order book that was 5.27 times oversubscribed. Attacq placed R760 million across 3-year and 5-year floating rate notes, which were issued at 129 bps and 141 bps over 3-months Jibar, respectively, below price guidance. Our outstanding distribution efforts, combined with favourable market conditions, have enabled Attacq to enter the market with highly competitive pricing when compared with similarly rated REIT peers in the debt capital markets, especially considering the busy auction pipeline with higher-yielding opportunities on offer.
Attacq intends on becoming a regular issuer of debt capital market instruments and is therefore strategically extending debt maturities, diversifying its institutional investor base, and enlarging its unsecured funding pool – laying the groundwork as a frequent issuer in debt capital markets. The achievement underscores local investors’ strong beliefs in Attacq’s leadership, business strategy and future DCM strategy.
The solid A+(za) national scale long-term rating and A1(za) national scale short-term rating assigned by GCR Ratings in March 2024, with a stable outlook, underpin Attacq’s strong credit metrics and liquidity position.
Attacq’s strategic approach to property investment
Attacq is a REIT based in South Africa and is listed on the JSE and A2X Markets. This innovative property business is future-fit and perfectly positioned to create a destiny that delivers positive societal impact and subsequently generate appropriate business returns, with a strategy that enhances the communities in which it operates. Attacq is a vibrant company, with a dedicated and committed team that creates and manages precinct spaces, hubs, and environments where life happens, shopping is an experience and communities come together to make a difference to their environment.
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Successful conclusion of a sustainability R2-billion Tier II bond
Nedbank Corporate and Investment Banking (NCIB) is pleased to announce the successful conclusion of a R2 billion sustainability tier II bond listed on the sustainability segment of the JSE on 7 November 2024.
Published 10 Dec 2024 in nedbank:cib/deals
Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024 in nedbank:cib/deals
Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024 in nedbank:cib/deals
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024
