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INVESTEC BANK MAURITIUS LIMITED - Issue of class IMRP9 credit-linked redeemable preference shares

Release Date: 17/12/2019 16:30
Code(s): IMRP9     PDF:  
Wrap Text
Issue of class IMRP9 credit-linked redeemable preference shares

Investec Bank (Mauritius) Limited
Incorporated in the Republic of Mauritius
Company Registration number 8752/3362
Business Registration number C09008752
JSE Share Code: IMRP9
JSE Issuer Share Code: IVES
ISIN: MU0455S00081



INVESTEC BANK (MAURITIUS) LIMITED: ISSUE OF CLASS IMRP9 CREDIT-LINKED
UNSECURED REDEEMABLE CUMULATIVE NON-PARTICIPATING UNSECURED NO
PAR VALUE PREFERENCE SHARES (CREDIT-LINKED REDEEMABLE PREFERENCE
SHARES): IMRP9

Following the establishment of a Medium Term Note and Preference Share Programme
(‘the Programme’) for the inward listing of notes or preference shares on the Johannesburg
Stock Exchange, the amended and restated Programme Memorandum (“the Programme
Memorandum”) dated 1 July 2019 in respect of the Programme was approved by the JSE
Limited (“the JSE”) on 1 July 2019.

Investors are advised that, following a successful private placement, the JSE has approved
the inward listing of 1 500 Credit-Linked Redeemable Preference Shares, as Class IMRP9
with effect from Thursday 19 December 2019 (“the listing date”) in the “Preference Share”
sector of the Main Board with the abbreviated name “IMRPREF9”, alpha code IMRP9 and
ISIN code MU0455S00081.

Salient features of the Class IMRP9 Redeemable Preference Shares are detailed
below:

 Issuer                     Investec Bank (Mauritius) Limited
 Instrument code            IMRP9
 ISIN                       MU0455S00081
 Instrument                 Credit-Linked Unsecured Redeemable Cumulative Non-
                            Participating Preference Shares
 Aggregate Issue            R60 000 000
 price
 Issue price per
 share                      R40,000.00
 Trade date                 13 December 2019
 Issue date                 19 December 2019

 Dividend rate(s)           3 month JIBAR plus the applicable Margin, provided that the
                            Dividend Rate in relation to the period (i) from the Issue Date
                            to 15 February 2020 shall be an interpolated rate as
                            determined by the Calculation Agent on the Issue Date and
                            (ii) from 15 November 2024 to 19 December 2024 shall be an
                            interpolated rate as determined by the Calculation Agent on
                            15 November 2024.
 Dividend                   Issue Date
 commencement
 date
 Dividend payment           15 February and 15 August of each year, and the Final
 dates                      Redemption Date or any earlier date on which this Tranche of
                            Programme Preference Shares are Redeemed, with the first
                            Dividend Payment Date being 15 February 2020
 Margin                     -0.06% (minus 0.06 percent)
 Scheduled                  19 December 2024
 Termination Date
 Business      day          Modified Following Business Day
 convention
 Total amount in            R2,951,549,310.00
 issue, after this
 issuance
 Final Redemption           As determined in accordance with Condition 4.1 and 4.2 of
 Amount                     the Credit Linked Conditions
 Final Redemption           The Final Redemption Date (as defined in the Credit Linked
 Date                       Conditions)
Additional Terms and
conditions/changes to the
Programme Memorandum        as set out in Annexure A of the Applicable Pricing
                            Supplement. The Additional Terms/changes relate to
                            Terms Adjustments: Issuer, Terms Adjustment:
                            Programme Preference Shareholder, the cancellation of
                            the payment of Preference Dividends if an Event
                            Determination Date occurs, the disapplication of certain
                            terms set out in the Programme Memorandum, conditions
                            relating to early redemption of the Programme Preference
                            Shares and the payment of unwind costs.


17 December 2019
Johannesburg

Sponsor:
Investec Bank Limited

Date: 17-12-2019 04:30:00
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