IDC Unveils Interest Payment Details for Instruments: High Rates and Significant Returns

IDC
  • IDC announces interest payment details for multiple instruments.
  • Interest rates range from 9.150% to 10.800%.
  • Total interest amounts exceed millions of ZAR for each instrument.

The Industrial Development Corporation of South Africa Limited (IDC) has recently made an important announcement regarding the interest payment details for several instruments. This disclosure aligns with the JSE Limited Debt Listings Requirements and aims to keep noteholders informed about the interest amounts and payment dates.

The IDC, a prominent development finance institution, is committed to transparency and timely communication with its stakeholders. By adhering to the JSE Limited Debt Listings Requirements, the IDC ensures that noteholders receive the necessary information about their investments.

According to the announcement, the following instruments have specific interest payment details:

  1. IDCG11 – ISIN No. ZAG000141037
    • Interest Payment Date: Monday, June 5, 2023
    • Interest Rate: 10.800%
    • Total Interest Amount: ZAR 33,226,717.81
  2. IDCG19 – ISIN No. ZAG000157611
    • Interest Payment Date: Monday, June 12, 2023
    • Interest Rate: 9.150%
    • Total Interest Amount: ZAR 19,458,916.44
  3. IDCG22 – ISIN No. ZAG000165408
    • Interest Payment Date: Monday, June 19, 2023
    • Interest Rate: 9.183%
    • Total Interest Amount: ZAR 42,103,174.44

These interest payments represent the returns on the aggregate nominal amount for each respective instrument.

The IDC’s commitment to providing regular updates on interest payments demonstrates its dedication to transparency and accountability. By delivering the expected returns within the scheduled timeframes, the IDC aims to instill confidence in its noteholders and investors.

As a leading development finance institution in South Africa, the IDC continues to contribute to the growth and development of various sectors within the country. The institution recognizes the importance of fulfilling its financial commitments while promoting sustainable economic growth.

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