Publications
Partners
Johannesburg - Retailer Pick n Pay Stores [JSE:PIK] announced on Friday that it has listed a domestic medium-term note (DMTN) programme on the JSE, under which it has successfully raised an initial R500m.
The notes issued mature in three months from the date of issue, and bear interest at the three-month Johannesburg interbank acceptance rate plus a margin of 0.24%.
"The DMTN programme will enable us to access short- and long-term funding, diversify its funding sources, enhance its liquidity position and provide funding flexibility," the group said.
The DMTN will be also be utilised to fund its capital expansion expenditure and working capital as required.
A maximum aggregate amount that can be in issue under the programme is limited to R2bn.
Investec Bank Limited is the sole arranger and sponsor on the programme and joint dealer with Absa Capital.
The notes issued mature in three months from the date of issue, and bear interest at the three-month Johannesburg interbank acceptance rate plus a margin of 0.24%.
"The DMTN programme will enable us to access short- and long-term funding, diversify its funding sources, enhance its liquidity position and provide funding flexibility," the group said.
The DMTN will be also be utilised to fund its capital expansion expenditure and working capital as required.
A maximum aggregate amount that can be in issue under the programme is limited to R2bn.
Investec Bank Limited is the sole arranger and sponsor on the programme and joint dealer with Absa Capital.
