MAR02B Floating Rate Note: South Africa’s Financial Gamechanger

  • MARTIUS (RF) LIMITED's New Bond: The company introduces MAR02B, a Floating Rate Note with a unique coupon structure.
  • Key Dates for Investors: Important dates include maturity, books close, interest payments, and registration deadlines.
  • Efficient Settlement Process: The note will be immobilized in the CSD, ensuring secure electronic settlements, promoting investor convenience.
Ndala Investment Notes

MARTIUS (RF) LIMITED has unveiled its latest financial offering to investors, the MAR02B Floating Rate Note. This development comes as the company continues to expand its presence in the Interest Rate Market on the Johannesburg Stock Exchange (JSE).

A New Offering with Significant Impact

The issuance of the MAR02B Floating Rate Note marks another milestone for MARTIUS (RF) LIMITED in the financial sector. The note, with a nominal issue size of R 20,000,000.00, will be listed on the JSE’s Interest Rate Market, effective September 23, 2022, under its Secured Note Programme dated February 22, 2022.

This bond issue has been authorized as part of a larger programme with a total size of R 10,000,000,000.00. Currently, R 771,000,000.00 worth of notes are outstanding, reflecting investor confidence in MARTIUS (RF) LIMITED.

Coupon Structure

One of the notable features of the MAR02B Floating Rate Note is its coupon structure. While the specific coupon rate is not provided in the announcement, it is linked to the 3 Month JIBAR rate as of September 18, 2023, with an additional 600 basis points (bps). This floating rate mechanism ensures that investors can benefit from potential interest rate fluctuations during the note’s term.

Important Dates for Investors

Investors interested in the MAR02B Floating Rate Note should take note of the following key dates:

  • Maturity Date: The note will mature on September 17, 2024.
  • Books Close: Books will close on March 12, June 12, September 12, and December 12 each year.
  • Interest Payment Dates: Interest payments are scheduled for March 17, June 17, September 17, and December 17 annually.
  • Last Day to Register: To be eligible for the upcoming interest payment, investors must register by 17:00 on March 11, June 11, September 11, and December 11, respectively.
  • Issue Date: The note was issued on September 18, 2023.
  • Interest Commencement Date: Interest began accruing on September 18, 2023.
  • Next Interest Payment Date: The next interest payment is set for December 17, 2023.

Efficient Settlement Process

For investor convenience and efficiency, the MAR02B Floating Rate Note will be immobilized in the Central Securities Depository (CSD), with electronic settlement in accordance with JSE Rules.

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