Wrap Text
MWAR19 MWAR20 - Listing of New Financial Instruments
MW ASSET RENTALS (RF) LIMITED
Reg No 2002/030074/06
Incorporated in the Republic of South Africa
JSE alpha code: MWSI
LISTING OF NEW FINANCIAL INSTRUMENTS
The JSE Limited has granted approval for new financial instruments listing to MW Asset Rentals (RF) Limited
under its Lease Receivables Backed Note Programme, sponsored by Nedbank Limited, as follows:
Bond code: MWAR19
Authorised programme size: R2,500,000,000.00
Total amount in issue after this issuance: R2,000,000,000.00
Instrument type: Floating rate
Nominal issued: R200,000,000.00
Issue price: 100%
Interest rate: 3-month JIBAR as at 17 November 2025 plus a margin of 99
basis points
Step-up rate: 3-month JIBAR as at 22 November 2026 plus a margin of 133
basis points
Trade type: Price
Scheduled maturity date: 22 November 2026
Final redemption date: 22 November 2036
Books close dates: 18 February to 22 February, 18 May to 22 May, 18 August to
22 August and 18 November to 22 November
Interest payment dates: 22 February, 22 May, 22 August and 22 November
Last day to register: By 17:00 on 17 February, 17 May, 17 August and 17 November
Issue date: 24 November 2025
Date convention: Modified following business day
Interest commencement date: 24 November 2025
Interest step-up date: 22 November 2026
First interest payment date: 22 February 2026
ISIN: ZAG000220567
Additional information: Secured Class A notes
Bond code: MWAR20
Authorised programme size: R2,500,000,000.00
Total amount in issue after this issuance: R2,000,000,000.00
Instrument type: Floating rate
Nominal issued: R450,000,000.00
Issue price: 100%
Interest rate: 3-month JIBAR as at 17 November 2025 plus a margin of 150
basis points
Step-up rate: 3-month JIBAR as at 22 November 2028 plus a margin of 201
basis points
Trade type: Price
Scheduled maturity date: 22 November 2028
Final redemption date: 22 November 2036
Books close dates: 18 February to 22 February, 18 May to 22 May, 18 August to
22 August and 18 November to 22 November
Interest payment dates: 22 February, 22 May, 22 August and 22 November
Last day to register: By 17:00 on 17 February, 17 May, 17 August and 17 November
Issue date: 24 November 2025
Date convention: Modified following business day
Interest commencement date: 24 November 2025
Interest step-up date: 22 November 2028
First interest payment date: 22 February 2026
ISIN: ZAG000220559
Additional information: Secured Class A notes
The Applicable Pricing Supplements are available at: https://merchantwest.co.za/mw-asset-rentals/
The notes relating to the new financial instrument ("Notes") will be dematerialised in the Central Securities
Depository ("CSD") and settlement will take place electronically in terms of JSE Rules. For further
information on the notes, please contact:
Corporate Actions JSE +27 11 520 7000
18 November 2025
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 18-11-2025 08:15:00
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