Thekwini Warehousing Conduit (RF) Lists TWC446 Notes on JSE, Promising Stability and Strong Returns

Thekwini Warehousing Conduit Notes Listing
  • Thekwini Warehousing Conduit (RF) Limited successfully lists TWC446 Fixed Rate Notes on JSE.
  • TWC446 notes have a total issue size of ZAR 2.88 billion, with a nominal value of ZAR 532 million, and will mature on 29 August 2023.
  • The fixed interest rate of 9.042% (based on 3-month Jibar plus 55bps) offers stability to investors, and Moody’s Investors Services has assigned a rating to the notes.

The Thekwini Warehousing Conduit (RF) Limited (TWC) announced today the successful listing of its latest financial instrument, the TWC446 Fixed Rate Notes, on the Johannesburg Stock Exchange (JSE). This move further strengthens TWC’s position in the market and opens up new investment opportunities for investors.

With an authorized program size of ZAR 6 billion, the TWC446 Fixed Rate Notes, including this issue, amount to ZAR 2.88 billion. These notes, designated as TWC446, have a nominal value of ZAR 532 million and are set to mature on 29 August 2023.

Investors will be pleased to note that the issue price for the TWC446 Fixed Rate Notes stands at 100%. The issue price was determined as 9.042%, calculated based on the 3-month Johannesburg Interbank Agreed Rate (Jibar) as of 1 June 2023, with an additional margin of 55 basis points. This fixed coupon indicator ensures stability and predictability for investors.

Interest on the TWC446 notes will commence from the issue date, scheduled for 5 June 2023. Both the interest payment date and the maturity date have been set for 29 August 2023. Investors should take note of the books being closed from 20 August 2023 to 25 August 2023. The last day to register for these notes is 19 August 2023 at 17:00. The business day convention follows the subsequent business day after the specified dates.

Moody’s Investors Services has assigned a rating to the TWC446 Fixed Rate Notes, highlighting their high creditworthiness. This rating provides investors with additional confidence in the stability and security of the investment opportunity.

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