International bonds: South Africa, 5.88% 16sep2025, USD (US836205AR58) (2024)

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Senior Unsecured

Issue | Borrower

Borrower

Scope

- | ***

***

Status

Outstanding

Amount

2,000,000,000 USD

Placement

***

Redemption (put/call option)

***

(-)

ACI on

Country of risk

South Africa

Current coupon

***

Price

Yield / Duration

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Placement amount

2,000,000,000 USD
Outstanding amount

2,000,000,000 USD
USD equivalent

2,000,000,000 USD
Minimum Settlement Amount

200,000 USD
ISIN

US836205AR58
Common Code

097198527
CFI

DBFUFR
FIGI

BBG0057YVJ91
SEDOL

BDS54C7
Ticker

SOAF 5.875 09/16/25

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Prospectus

Prospectus

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Issue information

Profile

South Africa is the southernmost country in Africa. It has 3 capital cities: executive Pretoria, judicial Bloemfontein, and legislative Cape Town. The economy of the most southern country of the African continent remains one of the most competitive in the region mainly based on private enterprise. Key sectors are manufacturing, retail, financial services, agriculture, and tourism.

The South African debt market is liquid and well-developed. It is represented by government, municipal and corporate securities.

Government securities consist of Republic of South Africa (RSA) Government Bonds and RSA Retail Savings Bonds. RSA bonds are issued by the Government of South Africa via the National Treasury to finance the total Budget deficit during a fiscal year. RSA Bonds, as issued by the Asset and Liability Management division of the National Treasury, are interest-bearing bonds. The bonds are listed on the Bond Exchange of South Africa. The National Treasury also issues Vanilla Bonds, Variable Bonds, CPI Bonds, and Zero Coupon bonds. An RSA Retail Savings Bond is an investment with the Government of South Africa which earns fixed or inflation-linked interest for the term of the investment. RSA Retail Savings Bonds are available as Fixed Rate Retail Savings Bonds (with a 2-year, 3-year, and 5-year maturity) and as Inflation Linked Retail Savings Bonds (with a 3-year, 5-year, and 10-year maturity).

Municipal Bonds are issued by city councils for development projects with tenors typically longer than one year. Municipal bond issues are not guaranteed by the central Government.

The corporate bond market of South Africa is dominated by the floating rate instruments – they amount to more than 71% of the outstanding securities. The corporate bond market of South Africa includes Fixed Rate Bonds, Inflation Linked Instruments, Commercial Paper, Credit Linked Notes, Asset-Backed Securities, Mortgage-Backed Securities, and Green Bonds.

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Borrower

Go to the issuer page

South Africa
Full borrower / issuer name

South Africa
Sector

Sovereign

Volume

Placement amount

2,000,000,000 USD
Outstanding amount

2,000,000,000 USD
Outstanding face value amount

2,000,000,000 USD

Face value

Minimum Settlement Amount

200,000 USD
Outstanding face value

*** USD
Increment

*** USD
Face value

1,000 USD
See Also
Domestic bonds: South Africa, Bonds 10.5% 21dec2026, ZAR (R186) (R186, ZAG000016320)

Listing

Listing

***

Cash flow parameters

Reference rate

***
Coupon Rate

***
Day count convention

***
Interest Accrual Date

***

Coupon frequency

*** time(s) per year
Payment currency

***
Maturity date

***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

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Early redemption terms

***

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bonds globally

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Why

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Placement

Placement method

Open subscription
Placement type

Public
Placement

***
Initial issue price (yield)

(***%)
Geographic breakdown

***
Investor breakdown

***
The purpose of placing

The net proceeds from the sale of the Notes are estimated to be US$1,965,703,000, after deduction of theunderwriting commission and discount and of certain expenses payable by the Republic. The Republic intends touse the net proceeds to repay maturing debt and for the general purposes of the government, subject to section 71of the PFMA. See The External Sector of the Economy and National Government Debt Summary ofExternal National Government Debt in the Annual Report.Unless otherwise specified in an applicable prospectus supplement, the net proceeds from the sale of thedebt securities and/or warrants to purchase debt securities will be used for the general purposes of the SouthAfrican government. South Africa may also issue securities in exchange for any of its outstanding securities.

Participants

Bookrunner

***, ***, ***
Depository

***, ***, ***
Paying agent

***

Conversion and exchange

Conversion terms

***

Covenants

Change of Control
***
Collective Action Clause
***
Covenant Suspension/Fall-Away
***
Cross Default
***
Designation of Restricted and Unrestricted Subsidiaries
***
Events of Default
***
Financial Covenants
***
Limitation on Business Activities
***
Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
***
Limitation on Indebtedness
***
Limitation on Investments
***
Limitation on Liens
***
Limitation on Restricted Payments
***
Limitation on Sale of Assets
***
Limitation on Sale/Leaseback
***
Limitation on Subsidiary Debt
***
Limitation on layering (anti-layering)
***
Limitations on transactions with affiliates
***
Merger Restrictions
***
Others
***
Rating Trigger
***

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Issue is included in calculation of indices

Cbonds Africa Sovereign USD Duration Index

Cbonds Africa Sovereign USD Index

Cbonds Africa Sovereign USD Price Index

Cbonds Africa Sovereign USD T-spread Index

Cbonds Africa Sovereign USD YTM Index

Cbonds EM Sovereign USD Duration Index

Cbonds EM Sovereign USD Index

Cbonds EM Sovereign USD Price Index

Cbonds EM Sovereign USD T-spread Index

Cbonds EM Sovereign USD YTM Index

Cbonds South Africa Sovereign USD Duration Index

Cbonds South Africa Sovereign USD Index

Cbonds South Africa Sovereign USD Price Index

Cbonds South Africa Sovereign USD T-spread Index

Cbonds South Africa Sovereign USD YTM Index

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Additional information

Latest issues

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News

22/01/2024	Fitch Ratings affirms South Africa at "BB-" (LT Int. Scale (foreign curr.) credit rating); outlook stable
22/01/2024	Fitch Ratings affirms South Africa at "BB-" (LT Int. Scale (local curr.) credit rating); outlook stable
19/01/2024	Fitch Affirms South Africa at 'BB-'; Outlook Stable (Rating action commentary)
30/12/2023	New issue: Issuer South Africa issued bonds (ZAM000651470) in the amount of ZAR 5770 mln maturing in 2025
25/12/2023	New issue: Issuer South Africa issued bonds (ZAM000651223) in the amount of ZAR 5605 mln maturing in 2024

All organization news

Related entities

In which the company has interests

Identifiers

ISIN

***
CUSIP

***
CUSIP 144A

***
Common Code

097198527
CFI

DBFUFR
FIGI

BBG0057YVJ91
WKN

A1HQX2
SEDOL

BDS54C7
Ticker

SOAF 5.875 09/16/25
Type of security by CBR

***

Ratings

Bond classification

Senior Unsecured
Registered
Documentary bonds
Coupon bonds
Amortization
Callable
CDO
Convertible
Dual currency bonds
Variable rate
For qualified investors (CIS region)
Foreign bonds
Green bonds
Guaranteed
Inflation-linked principal
Supranational bond issues
Inflation-linked coupon
Mortgage bonds
Perpetual
Payment-in-kind
Non-Marketable Securities
Redemption Linked
Restructuring
Retail bonds
Covered
Securitization
Structured product
Commercial Bonds
Subordinated
Sukuk
Trace-eligible

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Restructuring

***

Holders

International bonds: South Africa, 5.88% 16sep2025, USD (US836205AR58) (2024)

FAQs

Are South African bonds a good investment? ›

Safety: RSA Retail Savings Bonds are considered a safe investment option, as they are backed by the government. This means the bonds are less likely to default, and your investment is secure. In saying this, there is always risk involved when investing.

What is the bond rate in South Africa? ›

The South Africa 10Y Government Bond has a 11.185% yield. Central Bank Rate is 8.25% (last modification in May 2023). Video Player is loading.

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What is the yield of the SA 5 year bond? ›

The South Africa 5 Years Government Bond has a 9.657% yield (last update 24 Apr 2024 17:15 GMT+0).

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How to invest in South African government bonds? ›

Process

electronically, via the internet, on the RSA Retail Savings Bonds website.
at any branch of the South African Post Office.
Directly at the National Treasury - 240 Madiba Street, Cnr Thabo Sehume and Madiba Street, Pretoria, 0002.
by telephone, directly to the National Treasury Helpline, on 012 315 5888.

Are South African bonds safe? ›

Safety. RSA Retail Savings Bonds are the smartest way to save. Your money is invested with the South African Government, meaning the capital amount invested is guaranteed. Interest and capital is paid electronically into your bank account, which is a very safe way of investing.

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Who owns South African bonds? ›

Both local and foreign investors are holders of government bonds in both countries. In South Africa, foreign investors hold 38% of sovereign bonds, and local investors hold the majority at 62%.

What is the minimum bond amount in South Africa? ›

The minimum amount that can be invested is R1 000.00 and the investment may not exceed R5 million.

Read On ›

What are the current interest rates in South Africa? ›

The current prime lending rate is 11.75%, based on a repo rate of 8.25% as determined by the South African Reserve Bank. Use our Bond Calculator to determine how this will affect the cost of your home loan.

Find Out More ›

What is the 10 year bond rate in South Africa? ›

11.058%

What is the prime interest rate in South Africa? ›

Prime Rate

Current Prime Rate:	Repo Rate:	Effective Date:
11.75%	8.25%	2024/04/26

What are government bonds in South Africa? ›

These bonds are debt securities issued by the South African government to raise funds for various public projects, infrastructure development, and other essential initiatives.

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How do South African bonds work? ›

RSA retail bonds offer yields linked to SA government bonds, and are available with two-, three- or five-year fixed terms. Investors can either purchase vanilla bonds or inflation-linked retail bonds. Interest is payable semi-annually on set payment dates until maturity of the bond.

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How do I cash government bonds? ›

Where do I cash in a savings bond? You can cash paper bonds at a bank or through the U.S. Department of the Treasury's TreasuryDirect website.

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What happens to treasury bonds when the owner dies? ›

If a surviving co-owner or beneficiary is named on the savings bond, the bond goes directly to that person. It does not become part of the estate of the person who died. If you are the named co-owner or beneficiary who inherits the bond, you have different options for paper EE or I bonds and paper HH bonds.

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Are South African government bonds risk free? ›

The RSA Retail Bond is a no cost, safe, secure and risk free investment for ordinary South Africans, which offer Bond Market returns directly to the public.

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Are South African government bonds tax free? ›

The interest received every year will be added to your income and taxed accordingly. However, remember there is an annual interest exemption of R23,800 if you're under 65 and R34,500 for those over 65, so there is some relief.

Get More Info Here ›

Which investment gives highest return in South Africa? ›

Best Investment Options with Highest ROI in South Africa for 2024

Stocks - Best for portfolio control. ...
Robo-advisors - Best for hands-off investment. ...
Index funds - Best conservative approaches. ...
Cryptocurrencies - Best high risk high reward approach. ...
Government bonds – Low risk retirement planning.

Dec 31, 2023

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Are South African retail bonds taxable? ›

The provisions of the Income Tax Act, 1962 (Act 58 of 1962) regarding interest apply to all interest earned on RSA Retail Savings Bonds. As a general rule, investors treat interest received as ordinary revenue for purposes of income tax.

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