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BRIEF-African Bank offers to buy back certain notes
September 8, 2017 / 6:06 AM / 16 days ago

BRIEF-African Bank offers to buy back certain notes

Sept 8 (Reuters) - AFRICAN BANK LIMITED:‍

* OFFER TO BUY BACK CERTAIN NOTES ISSUED IN TERMS OF DMTN PROGRAMME LISTED ON JSE​

* ‍RATIONALE OF TENDER OFFER FOR BANK IS TO REDUCE ITS INTEREST EXPENSE AND THUS IMPROVE EARNINGS​

* ‍TARGETING OF SHORTER-DATED DMTN BONDS IS EXPLICIT SO AS TO PRESERVE LONGER TERM LIQUIDITY

* ‍RESULTS OF INVITATION PROCESS WILL BE COMMUNICATED TO MARKET VIA A JSE NOTICE AT OR BEFORE 09:00 ON 15 SEPTEMBER 2017​ Source text for Eikon:

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