This section contains information related to credit ratings assigned by external rating agencies to African Bank Limited, and gives an overview of the debt issued by the Bank, including relevant legal documentation.
Standard & Poor’s Rating Services (S&P) have assigned a ‘B+/B’ global scale rating and a ‘zaBBB/zaA-2’ national scale rating to African Bank with a stable outlook . The global scale rating also applies to the Bank’s EMTN and all notes issued under that programme which are listed either on the LSE or the SIX. The DMTN and all notes issued under that programme have not been rated.
African Bank Limited is funded by three main sources
- Bonds raised under the Bank’s Domestic Medium Term Note Programme (DMTN). The bonds are listed on the Johannesburg Stock Exchange (JSE).
- Bonds raised under the Bank’s Euro Medium Term Note Programme (EMTN). The majority of these bonds are listed on the London Stock Exchange (LSE) and the Swiss Stock Exchange (SIX).
- Bilateral deposits raised from South African corporate asset managers on a one on one bilateral basis.
All funding raised by means of the bilateral channel are subject to certain general and product specific standard terms and conditions. These terms and conditions are detailed in this section.
The information referred to above can be accessed below under the respective sub sections for each year.