Wrap Text
Listing of new infrastructure and development finance bonds - RI2036 and RI2041
REPUBLIC OF SOUTH AFRICA
Department of National Treasury
Issuer code: BIRSA
Bond code: RI2036 ISIN: ZAG000221045
Bond code: RI2041 ISIN: ZAG000221052
("National Treasury")
LISTING OF NEW INFRASTRUCTURE AND DEVELOPMENT FINANCE BONDS – RI2036 AND RI2041
The JSE Limited ("JSE") has granted approval for the listing of Unsecured Fixed Rate Infrastructure
and Development Finance Bonds ("Notes") under series RI2036 and RI2041, respectively, issued
in terms of the Republic of South Africa's Domestic Multi Term Note Programme Memorandum
dated 9 September 2019, as updated, supplemented and/or amended from time to time
("Programme Memorandum"), with effect from Thursday, 11 December 2025.
Any capitalised terms in this announcement shall have the same meanings ascribed thereto in the
section of the Programme Memorandum entitled "Terms and Conditions of the Notes".
RI2036
The details pertaining to the issue of the RI2036 Notes are as follows:
Instrument Code: RI2036
International Securities Identification ZAG000221045
Number ("ISIN"):
Instrument Type: Fixed Rate Notes
Total Notes in Issue as at 8 December ZAR4,329,839,414,465.39 (excluding this issuance of
2025: RI2036 Notes and the RI2041 Notes)
Nominal Amount: ZAR6,996,000,000.00
Issue Date: 11 December 2025
Issue Price: 100%
Maturity Date: 31 March 2036
Business Day Convention: Following Business Day
Final Redemption Amount: 100% of nominal issued
Last Day to Register: By 17h00 on 20 March and 19 September of each
calendar year until the Maturity Date or if such day is
not a Business Day, the Business Day immediately
preceding each Books Closed Period
Books Closed Period: The Register will be closed from 21st to 30th March and
from 20th to 29th September (all dates inclusive) of
each year until the Maturity Date, or if any early
redemption occurs, 10 Days prior to the actual
Redemption Date
Interest Rate: 8.575 percent per annum payable semi-annually in
arrears on each Interest Payment Date
Coupon Rate Indicator: Fixed Rate
Interest Commencement Date: 11 December 2025
Interest Payment Date(s): 31 March and 30 September in each year, up to and
including the Maturity Date, or if such a day is not a
Business Day, the Business Day on which the interest
will be paid, as determined in accordance with the
applicable Business Day Convention (as specified in
the applicable pricing supplement ("APS")), with the
first Interest Payment Date being 31 March 2026
Interest Rate Determination Date(s) or means 31 March and 30 September (or the first
Reset Dates: Business Day of each Interest Period) of each year
until the Maturity Date, with the first Interest Rate
Determination Date being 8 December 2025
Other: Use of Proceeds
The proceeds of the issue of the RI2036 Notes will be
used exclusively to finance or refinance projects
under the South African Government's Budget Facility
for Infrastructure (BFI) programme.
Disclosure and Reporting
See Schedule 1 (Disclosure and Reporting) to the
APS.
The APS is available on the National Treasury's
website:
https://investor.treasury.gov.za/Debt%20Operations
%20and%20Data/Auction%20Related%20Informatio
n/Technical%20information/Infrastructure%20and%2
0Development%20Finance.aspx
RI2041
The details pertaining to the issue of the RI2041 Notes are as follows:
Instrument Code: RI2041
ISIN: ZAG000221052
Instrument Type: Fixed Rate Notes
Total Notes in Issue as at 8 December ZAR4,329,839,414,465.39 (excluding this issuance of
2025: RI2041 Notes and the RI2036 Notes)
Nominal Amount: ZAR4,799,000,000.00
Issue Date: 11 December 2025
Issue Price: 100%
Maturity Date: 31 March 2041
Business Day Convention: Following Business Day
Final Redemption Amount: 100% of nominal issued
Last Day to Register: By 17h00 on 20 March and 19 September of each
calendar year until the Maturity Date or if such day is
not a Business Day, the Business Day immediately
preceding each Books Closed Period
Books Closed Period: The Register will be closed from 21st to 30th March and
from 20th to 29th September (all dates inclusive) of
each year until the Maturity Date, or if any early
redemption occurs, 10 Days prior to the actual
Redemption Date
Interest Rate: 9.13 percent per annum payable semi-annually in
arrears on each Interest Payment Date
Coupon Rate Indicator: Fixed Rate
Interest Commencement Date: 11 December 2025
Interest Payment Date(s): 31 March and 30 September in each year, up to and
including the Maturity Date, or if such a day is not a
Business Day, the Business Day on which the interest
will be paid, as determined in accordance with the
applicable Business Day Convention (as specified in
the APS), with the first Interest Payment Date being
31 March 2026
Interest Rate Determination Date(s) or means 31 March and 30 September (or the first
Reset Dates: Business Day of each Interest Period) of each year
until the Maturity Date, with the first Interest Rate
Determination Date being 8 December 2025
Other: Use of Proceeds
The proceeds of the issue of the Notes will be used
exclusively to finance or refinance projects under the
South African Government's Budget Facility for
Infrastructure (BFI) programme.
Disclosure and Reporting
See Schedule 1 (Disclosure and Reporting) to the
APS.
The APS is available on the National Treasury's
website:
https://investor.treasury.gov.za/Debt%20Operations
%20and%20Data/Auction%20Related%20Informatio
n/Technical%20information/Infrastructure%20and%2
0Development%20Finance.aspx
The Notes will be dematerialised in the Central Securities Depository (CSD) and settlement will
take place electronically in terms of the JSE rules.
For further enquiries contact:
T Bomela-Msomi
Director: Debt Issuance & Management
012 315 5753 / +27 66 289 2492
Pretoria
10 December 2025
Debt Sponsor
One Capital
Date: 10-12-2025 08:00:00
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