25 July 2014 by

South African government sovereign bonds issue – Cliffe Dekker Hofmeyr was legal advisor to four banks

Jackie King, Director in the Finance and Banking Practice (Debt Capital Markets) at Cliffe Dekker Hofmeyr Inc, advised Barclays Bank PLC, Citigroup Global Markets Inc., Rand Merchant Bank, a division of FirstRand Bank Limited, and Investec Bank PLC (as Underwriters), in relation to: (a) the Preliminary Prospectus Supplement dated 16 July 2014  (filed with the U.S. Securities and Exchange Commission on 16 July 2014) and the Final Prospectus Supplement dated 17 July 2014 (filed with the U.S. Securities and Exchange Commission on 18 July 2014), to the Prospectus dated 7 February 2014;  and (b) the issue and sale by the Government of the Republic of South Africa, on 24 July 2014, of U.S.$1,000,000,000 5.375% Notes, due 24 July 2044 ("USD Notes"), and €500,000,000 3.750% Notes, due 24 July 2026 ("Euro Notes") (listed on the Luxembourg Stock Exchange) to the Underwriters pursuant to the Underwriting Agreement and the Pricing Agreement.

Poswa Inc co-partnered with Cliffe Dekker Hofmeyr Inc in the above transaction.

The issue of the Euro Notes is the Government of the Republic of South Africa’s first issue of euro-denominated bonds since 2006, according to data compiled by Bloomberg. The issue of the USD Notes is the Government of the Republic of South Africa’s first issue of dollar-denominated bonds since September 2013.

Partners involved: Jacqueline King

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