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Growthpoint Properties to issue 500M South African rand notes

South African real estate investment trust Growthpoint Properties Ltd. received approval to list 500.0 million South African rand worth of bonds.

The senior unsecured fixed-rate notes have a coupon of 7.585% and a final maturity date of June 6. The interest commencement and issue date is March 6.

The registration is slated to close May 26.

Absa Bank Ltd.'s Absa Corporate and Investment Bank division is the debt sponsor.

As of March 6, US$1 was equivalent to 11.79 South African rand.