BNP Paribas to Redeem ZAR150M Index Securities Ahead of Schedule, Offering Value to Investors

  • BNP Paribas Issuance B.V. announces early redemption of ZAR150 million Index Securities due on 4 July 2028.
  • Investors will receive ZAR1,250 for each Certificate in the early redemption process.
  • The Standard Bank of South Africa Limited is appointed as the Debt Sponsor for the redemption, ensuring a smooth execution of the process.
BNP Paribus

BNP Paribas Issuance B.V., made a significant announcement regarding the early redemption of ZAR150,000,000 Index Securities due on 4 July 2028. This move reflects the company’s commitment to optimizing its financial structure and delivering value to its stakeholders. Investors are set to benefit from the early redemption, which will provide them with an opportunity to realize the value of their securities ahead of schedule.

BNP Paribas Issuance B.V., incorporated in the Netherlands and listed on the JSE Limited under the stock code ZA237, has been granted a listing by the JSE Limited, enabling the company to proceed with the redemption process. Investors holding the ZAR150 million Index Securities are advised that the early redemption amount will be ZAR1,250 for each Certificate.

The early redemption process will take place on 4 July 2023, and investors are advised to take note of the salient dates associated with this event. The last date to trade these securities is Tuesday, 27 June 2023, after which the securities will be suspended from trading on Wednesday, 28 June 2023. The record date has been set for Friday, 30 June 2023, and the payment/early redemption date is scheduled for Tuesday, 4 July 2023. The early termination date has been set for Wednesday, 5 July 2023.

To ensure a smooth redemption process, BNP Paribas Issuance B.V. has appointed The Standard Bank of South Africa Limited as the Debt Sponsor for this initiative. The Standard Bank’s expertise and support will be instrumental in facilitating the efficient execution of the early redemption.

This early redemption not only demonstrates BNP Paribas’s commitment to meeting its financial obligations but also highlights its strategic focus on optimizing its capital structure. By redeeming the ZAR150 million Index Securities ahead of schedule, the company aims to enhance its financial flexibility, allowing it to pursue future endeavors and meet the evolving needs of its clients.

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