20 Mar 2013

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PPC issues R650m domestic bond

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Johannesburg - PPC has successfully issued its debut bond of R650m under its Domestic Medium Term Note (DMTN) programme‚ it said Wednesday.

The three year senior unsecured floating rate bond was issued today at a coupon of 3 month JIBAR plus 1.26% per annum. The bond issue was 4.6 times oversubscribed.

"This is a milestone in PPC’s 121 year history; and will give further impetus to our strategy of keeping the home fires burning and expanding into the rest of Africa"‚ said Ketso Gordhan CEO of PPC.

"This is an excellent result for our debut issuance and speaks to PPC’s strategy of diversifying funding sources in a cost effective manner"‚ said Tryphosa Ramano‚ CFO of PPC.
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