Business Day (Johannesburg)

South Africa: RCS Investment Holdings Bond Oversubscribed

10 March 2010

Johannesburg — Rand Merchant Bank (RMB) has announced the oversubscription of the RCS Investment Holdings (RCS) bond.

The issuance consisted of a R112m 364-day floating-rate note and a R191m 4-year floating-rate note.

"The R303m raised exceeded our initial indications to the market of R200m, which is an indication of strong investor support for RCS," says Barry Martin, Co-head of Debt Capital Markets at RMB.

RCS CEO Schalk van der Merwe says the company is ecstatic "We are pleased with this very successful first issuance. This is a very positive initiation of our relationship with debt capital market investors. Funding directly from the capital markets will enable us to diversify our funding sources in future."

Tagged: Banking, Business, Company, Investment, South Africa, Southern Africa

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