Nedbank Corporate and Investment Banking, the appointed debt sponsor, has announced a series of interest payments for various bonds in December 2023. Investors can expect disbursements with varied coupon rates, starting from the beginning of the month and continuing towards the end.
The upcoming payments begin on December 1st, with the NBK20A bond, which will distribute interest amounting to R90,080,200.00, reflecting a coupon rate of 10.360% for the period from June to December 2023. Following this, on December 8th, the NGT108 bond will disburse R49,82713975 with a coupon rate of 13.003%. The subsequent payouts will occur on December 11th for the NGT112 bond, offering an 11.733% rate and amounting to R14,62606849, and on December 18th, the NBG07G and NGT1G bonds will respectively pay R27,462,087.12 at a 9.783% rate and R28,20758164 at a 12.433% rate.
As December progresses, more payments are lined up, including the NGL09 bond on December 19th, rewarding investors with R66,58582192 at a 12.683% rate. Post-Christmas, on December 27th, a trio of bonds—NGT103, NGT110, and NGL10—will make interest payments with rates of 12.733%, 12.243%, and 10.333% respectively, totaling R21,53516592, R10,68327534, and R11,12877671. The final payment of the month comes from the NGT113 bond on December 28th, with a disbursement of R28,95295890 (USD1 = ZAR18.6900) at an 11.613% interest rate.
All transactions adhere to the modified following business day convention, ensuring that payments are made on the next working day if the due date falls on a weekend or holiday. This series of payments reflects Nedbank's commitment to meeting its financial obligations to bondholders and maintaining a structured schedule for interest disbursements.
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