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South Africa's Redefine Properties plans to amend 5B rand note program

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South Africa's Redefine Properties plans to amend 5B rand note program

South Africa's Redefine Properties Ltd. proposed to amend its 2011 memorandum for a 5 billion South African rand domestic medium-term note program into a 20 billion rand program.

Under the amended program, Redefine would, from time to time, be able to issue notes denominated in any currency agreed by the company and relevant dealers. The memorandum was registered with the Johannesburg Stock Exchange.

Rand Merchant Bank and Absa Bank Ltd. are serving as arrangers and dealers for the program, with the The Standard Bank of South Africa Ltd. also acting as a dealer.

As of July 30, US$1 was equivalent to 13.15 South African rand.