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DEBT CAPITAL MARKETS
Debt Capital Markets
2
03 OurFirm
04 OurFootprintinAfrica
05 OurDebtCapitalMarketExpertise
06 OurSpecialistServices
07 OurSignatureMatters
13 KeyContacts
Contents
BOWMANS
3CONTENTS PAGE
Our Firm
Bowmans is a leading Pan-African law firm. Our track record of providing specialist legal services, both domestic and cross-border, in the fields of corporate law, banking and finance law and dispute resolution, spans over a century.
WithsixofficesinfourAfricancountries
andover400specialisedlawyers,
wearedifferentiatedbyourgeographical
reach,independenceandthequalityoflegal
servicesweprovide.
Wedrawonouruniqueknowledgeofthe
Africanbusinessenvironmentandin-depth
understandingofthesocio-politicalclimate
toadviseclientsonawiderangeoflegal
issues.Ouraimistoassistourclientsin
achievingtheirobjectivesassmoothlyand
efficientlyaspossiblewhileminimisingthe
legalandregulatoryrisks.
Ourclientsincludecorporates,multinationals
andstate-ownedenterprisesacrossarange
ofindustrysectorsaswellasfinancial
institutionsandgovernments.
Ourexpertiseisfrequentlyrecognised
byindependentresearchorganisations.
WehavebeennamedAfricanLegalAdviser
byDealMakersforthelastthreeconsecutive
yearsandSouthAfricanLawFirmofthe
Yearfor2016bytheWho’s Who Legal.Most
recently,wewontheTechnology,Mediaand
TelecommunicationsTeamoftheYearAward
attheprestigiousAfricanLegalAwardshosted
byLegal WeekandtheCorporateCounsel
AssociationofSouthAfricain2017.Thefirm
wasalso‘highlycommended’intheAfrican
LawFirmoftheYear–LargePracticeand
LitigationandDisputeResolutionTeamof
theYearcategories.
Debt Capital Markets
4CONTENTS PAGE
Our Footprint in Africa
Weprovideintegratedlegalservices
throughoutAfricafromsixoffices(Cape
Town,DaresSalaam,Durban,Johannesburg,
KampalaandNairobi)infourcountries
(Kenya,SouthAfrica,TanzaniaandUganda).
WeworkcloselywithleadingNigerianfirm
UdoUdoma&Belo-Osagie,andMozambique-
basedboutiquefirm,TacianaPeãoLopes&
AdvogadosAssociados.Wealsohavestrong
relationshipswithotherleadinglawfirms
acrosstherestofAfrica.
WearerepresentativesofLexMundi,aglobal
association,withmorethan160independent
lawfirmsinallthemajorcentresacrossthe
globe.Thisassociationgivesusaccesstothe
bestfirmsineachjurisdictionrepresented.
BOWMANS
5CONTENTS PAGE
Our Debt Capital Market Expertise
Weprovideexceptionallegalandtransactional
debtcapitalmarketsadvicetobanks,financial
institutions,corporates,state-ownedentities,
municipalitiesandgovernments.Ourpractical
andinnovativeapproachtoeachtransaction
ensuresthatwedeliverclearandconcise
solutionsthatenableourclientstoconclude
theirtransactionssuccessfully.
Ourdebtcapitalmarketsteamisregarded
asoneofthestrongestintheSouthAfrican
financialspace.Thisisborneoutbythe
impressivemandatesthatwesecureboth
locallyandinternationally.Ourexpertisein
RegulationS/Rule144Aissues,stand-alone
bondissues,domesticmediumtermnote
programmes,domesticissuances,inward
listings,structuredproducts,securednote
programmes,securednoteissuancesand
convertiblebondsisparticularlyrenowned.
WearedifferentiatedintheSouthAfrican
marketbyourin-depthknowledgeofthe
regulatoryframework,whichextendsto
exchangecontrol,andourrelationshipswith
theJSELtd,StratePtyLtdandtheSouth
AfricanReserveBank’s(SARB’s)Financial
SurveillanceDepartment.Inaddition,members
ofourteamsitontheJSEListingAdvisory
CommitteeandontheExecutiveCommitteeof
theSouthAfricanSecuritisationForum.
WeareactiveinseveralAfricanjurisdictions
inadditiontothoseinwhichwearelocated,
includingBotswana,Ghana,Namibia,Nigeria
andZambia.
"The lawyers I work with have been top quality. They are clearly at the cutting edge in South Africa, and they are also not just limited to South Africa either – they have stretched up into Africa. It's easy to get a very quick answer from them and if there is some kind of problem, it is always addressed." – Chambers & Partners, 2016
Debt Capital Markets
6CONTENTS PAGE
Our Specialist Services
• Standalonebondissues
• Domesticmediumtermnoteprogrammes
• Commercialpaperprogrammes
• Global/euromediumtermnote
programmes(RegulationSandRule144A)
• Structuredproducts
• Securednoteprogrammes
• Inwardlistings
• Convertiblebonds
• DCMregulatoryadvice
6
BOWMANS
7CONTENTS PAGE
Wehaveadvised:
FINANCIAL INSTITUTIONS
• BNPParibasArbitrageIssuanceBV,an
entityincorporatedintheNetherlands,(as
Issuer),BNPParibas,anentityincorporated
inFrance,(asIssuerand,inrespectofBNP
ParibasArbitrageIssuanceBVonly,as
Guarantor),BNPParibas,actingthrough
itsSouthAfricanBranch(asIssuer),BNP
ParibasArbitrageSNC(asArranger)and
StandardBankofSouthAfricaLtd,acting
throughitsCorporateandInvestment
BankingDivision(asJSEDebtSponsor)in
connectionwiththeupdateoftheNote,
WarrantandCertificateProgramme,which
isinwardlistedontheInterestRateMarket
andtheMainBoardoftheJSEandthe
inwardlistingofnotes,warrantsand
certificatesundertheprogramme.
• Calyon,actingthroughitsSouthAfrica
branch,inconnectionwiththeestablishment
oftheCalyonZAR4billionDomestic
MediumTermNoteProgrammeandthe
issuancesofnotesundertheprogramme.
• FirstRandBankLtdinconnectionwiththe
establishmentandongoingupdatesofthe
FirstRandBankLtdZAR50billionDomestic
MediumTermNoteProgramme.
• GoldmanSachsInternationalinconnection
withtheinwardlistingoftheGoldmanSachs
InternationalProgrammefortheissuance
ofwarrants,notesandcertificatesinSouth
Africaandtheissuanceofnotesunder
theprogramme.
• GoldmanSachsInternationalinconnection
withtheinwardlistinginrespectofthe
GoldmanSachsInternationalProgramme
fortheissuanceofsecurednotesin
SouthAfrica.
• IFCinconnectionwiththeinwardlisting
oftheIFC’sGlobalMediumTermNote
ProgrammeontheJSEandthedebut
issuanceofZAR1billionGreenNoteslisted
ontheJSE.WeadvisedIFConthelegal
andregulatoryaspectsofthetransaction,
includinginconnectionwithobtainingthe
requisiteregulatoryapprovalsfromthe
officeoftheMinisterofFinance,the
SouthAfricanReserveBank,theFinancial
ServicesBoardandtheJSE.
• InternationalFinanceCorporation(IFC)
(asIssuer)andRandMerchantBank,
adivisionofFirstRandBankLtdin
connectionwiththeissueofZAR500
million8.765%FixedRateSouthAfrican
NotesdueApril14,2021issuedunderthe
IFC’sZAR5billionGlobalMedium-Term
NoteProgramme.
• RCSInvestmentHoldingsLtd(asIssuer),
RCSCards(Pty)Ltd(asGuarantor),
BNPParibas(asGuarantor)andRand
MerchantBank,adivisionofFirstRand
BankLtd(asArranger,DealerandJSE
DebtSponsor)inconnectionwiththe
updateoftheRCSInvestmentHoldingsLtd
ZAR10billionDomesticMediumTerm
NoteProgramme,andtheinclusionofa
foreignguarantor,BNPParibas,wherein
weadvisedontheSouthAfricanlaw
aspectsoftheguarantee.
• StandardBankofSouthAfricaLtdin
connectionwiththeinwardlistingof
theAfricanDevelopmentBankEMTN
ProgrammeinSouthAfricaandthe
issuancesofnotesundertheprogramme.
• TheinitialpurchasersnamelyCitigroup
GlobalMarketsInc,HSBCBankplc,
BarclaysBankplc,CreditSuisseSecurities
(Europe)Ltd,StandardBankofSouth
AfricaLtd,JPMorganSecuritiesplc,
Our Signature Matters
Debt Capital Markets
8CONTENTS PAGE
MizuhoInternationalplc,MorganStanley&Co
Internationalplc,MUFGSecuritiesEMEAplc,
RandMerchantBank,adivisionofFirstRand
BankLtd(LondonBranch),RBCCapital
Markets,LLC.,ScotiaCapital(USA)
IncandSociétéGénéraleinconnection
withthehighyieldbond(RegulationS/
Rule144A)offerofUSD1.05billionlisted
ontheIrishStockExchange.
• TheMauritiusCommercialBankLtd,Citigroup
NA,SouthAfricabranch,inconnectionwith
theinwardlistingofTheMauritiusCommercial
BankLtdMediumTermNoteProgramme
andtheissueofvariousnotesunder
theProgramme.
INSURERS
• AbsaCorporateandInvestmentBank,
adivisionofAbsaBankLtdandNedbank
Ltdinconnectionwiththeestablishmentof
theOldMutualLifeAssurance(SouthAfrica)
LtdZAR10billionUnsecuredSubordinated
CallableNoteProgrammeandtheissuances
ofvariousnotesundertheprogramme.
• MMIGroupLtdinconnectionwiththe
consolidationandamendmentand
restatementofitsZAR5billionUnsecured
SubordinatedCallableNoteProgrammeand
theissuanceofnotesthereunder.
• SanlamLifeInsuranceLtdZAR3billion
UnsecuredSubordinatedCallableNote
Programmeandthedebutissuanceof
notesundertheprogramme.
• SantamLtdandRandMerchantBankin
connectionwiththeestablishmentbythe
IssueroftheSantamLtdZAR4billion
UnsecuredSubordinationCallableNote
ProgrammeontheInterestRateMarketof
theJSEandtheissueofvariousnotesunder
theProgramme.
STATE OWNED ENTITIES/ MUNICIPALITIES
• AbsaBankactingthroughitsAbsaCapital
division,VunaniCapitalHoldings(Pty)Ltd,
DeutscheBankAG,JohannesburgBranch,
QuartileCapital(Pty)Ltd,Infrastructure
FinanceCorporationLtd,NedbankLtd,
FirstRandBankLtd,IDGFinancialServices
Investments(Pty)Ltd,StandardBankof
SouthAfricaLtdandBasisPointsCapital
(Pty)Ltdinconnectionwiththeestablishment
oftheCityofJohannesburgZAR13billion
amendedandrestatedDomesticMedium
TermNoteProgrammeandtheissueof
variousnotesundertheProgramme.
• CityofEkurhuleniMetropolitanMunicipality
withtheissueofZAR500millionSenior
UnsecuredFixedAmortisingRateNotesand
withtheprivateplacementofZAR800million
SeniorUnsecuredFixedAmortisingRate
NotesissuedundertheProgrammepursuant
totheprovisionsoftheMunicipalFinance
ManagementAct.
• Denel(SOC)LtdandFirstRandBankLtd
inconnectionwiththeestablishmentof
theDenel(Pty)LtdZAR2billionDomestic
MediumTermNoteProgrammeandthe
debutissueofnotesundertheprogramme
(includingcompliancewiththePublic
FinanceManagementAct(PFMA)and
TreasuryRegulations).
"They are very attentive to the needs of the client – they will make sure someone is available and follow up with us, and their work is excellent. –Chambers&Partners,2016
BOWMANS
9CONTENTS PAGE
• DenelSOCLtdinrelationtoitsDMTN
ProgrammeincreasefromZAR2.2billion
toZAR3billionandcounseltoDenelSOC
LtdandNedbankLtd,actingthroughits
CorporateandInvestmentBankingDivision
inconnectionwiththeissueofvariousnotes
undertheirProgramme.
• EskomHoldingsLtdinconnectionwiththe
establishmentofEskomHoldingsLtd
ZAR65billionDomesticMediumTermNote
Programmeandtheissuancesofnotesunder
theprogramme(includingcompliancewith
thePFMAandTreasuryRegulations).
• LandandAgriculturalDevelopmentBank
ofSouthAfrica(asIssuer),StandardBank
ofSouthAfricaLtd(asArranger)andthe
Dealersinconnectionwiththeupdateofthe
LandandAgriculturalDevelopmentBankof
SouthAfricaZAR20billionDomesticMedium
TermNoteProgrammeontheInterestRate
MarketoftheJSE.TheIssuerisaSchedule2
publicentityunderthePFMAregulatedby
theLandandAgriculturalDevelopmentBank
Act(theLandBankAct)andthePFMA.We
advisedonthenecessaryregulatoryapprovals
andconsentsrequiredtobeobtained
pursuanttotheLandBankAct.
• LandandAgriculturalDevelopmentBankof
SouthAfrica(asIssuer)andAbsaCorporate
andInvestmentBank,adivisionofAbsaBank
Ltd(asDealer)inconnectionwiththeissue
ofZAR500millionSeniorUnsecuredFloating
RateNotesissuedundertheirZAR20billion
DomesticMediumTermNoteProgramme.
• NationalTreasuryandDepartmentofPublic
EnterprisesinconnectionwiththeSouth
AfricanGovernmentGuaranteeforthe
obligationsofEskomHoldingsLtdunderthe
notesissuedpursuanttotheEskomHoldings
LtdZAR65billionDomesticMediumTerm
NoteProgramme(includingcompliancewith
thePFMAandTreasuryRegulations).
• NedbankCapital,QuartileCapital(Pty)Ltd
andInvestecBankLtdinconnectionwiththe
establishmentoftheRandWaterZAR5billion
DomesticMediumTermNoteProgrammeand
thedebutissueofnotesundertheprogramme
(includingcompliancewiththePFMAand
TreasuryRegulations).
• StandardBankofSouthAfricaLtdandNedbank
Capitalinconnectionwiththeestablishment
oftheAirportsCompanyofSouthAfricaLtd
ZAR12billionDomesticMediumTermNote
Programmeandissuanceofvariousnotesunder
theprogramme(includingcompliancewiththe
PFMAandTreasuryRegulations).
• StandardBankofSouthAfricaLtdin
connectionwiththeestablishmentofthe
CityofCapeTownMetropolitanMunicipality
ZAR7billionDomesticMediumTermNote
Programmeandthedebutissueofnotes
undertheprogramme.
• Themanagersandunderwritersinconnection
withtheissuebyTelkomLtdofEUR500million
SeniorNotes.
• TransnetLtdinconnectionwiththe
establishmentoftheTransnetLtd
ZAR30billionDomesticMediumTermNote
Programmeandthedebutissueofnotes
undertheprogramme(includingcompliance
withthePFMAandTreasuryRegulations).
• TransnetLtdinconnectionwiththe
establishmentoftheTransnetLtd
USD2billionGlobalMediumTerm
NoteProgramme.
"Their experience and track record stand out, as does the quality of their individuals. The quality of their work is exceptional and they are good people to deal with." –Chambers
&Partners,2017
Debt Capital Markets
10CONTENTS PAGE
REAL ESTATE COMPANIES
• AbsaCapitalandGrowthpointProperties
Ltdinconnectionwiththeestablishmentof
theGrowthpointPropertiesLtdZAR5billion
DomesticMediumTermNoteProgramme
andthevariousnoteissuancesunder
theprogramme.
• CalgroM3DevelopmentsLtdandNedbankLtd,
inconnectionwiththeissueofZAR70million
SeniorUnsecuredFloatingRateNotes(CGR22),
ZAR25millionSeniorUnsecuredFloatingRate
Notes(CGR23)andZAR20millionSenior
UnsecuredFloatingRateNotes(CGR24)
issuedundertheCalgroM3Developments
LtdZAR600billionDebtProgramme.
• EmiraPropertyFundLtdandRandMerchant
Bankinconnectionwiththeupdateofthe
Issuer’sZAR5billionDomesticMediumTerm
NoteProgramme.Inparticularweadvised
onaspectsrelatingtotheJSEdebtlistings
requirementsandtherelevantaspectsof
theconversionofEmiraPropertyFund
(OldEmira)intoacorporateRealEstate
InvestmentTrust;andthetransferofrights
andobligationsundertheEmiraProgramme
fromOldEmiratoEmiraPropertyFundLtd.
• FortressIncomeFundLtdandRandMerchant
Bankinconnectionwiththeissuanceof
variousnotesundertheFortressIncomeFund
LtdZAR10billionDomesticMediumTerm
NoteProgramme.
• RebosisPropertyFundLtdandNedbankLtd,
actingthroughitsDebtCapitalMarketsdivision
inconnectionwiththeestablishmentofthe
RebosisPropertyFundLtdZAR3billion
andtheissuanceofvariousnotesunder
theprogramme.
MANUFACTURERS
• Mercedes-BenzSouthAfricaLtd,DaimlerAG
(asGuarantor)andRandMerchantBank,a
divisionofFirstRandBankLtd,inconnection
withtheupdateoftheMercedes-BenzSouth
AfricaLtdZAR35billionDomesticMedium
TermNoteProgrammeontheInterestRate
MarketoftheJSE.Wealsoadvisedonthe
SouthAfricanlawaspectsoftheGuarantee
(governedbyGermanLaw)providedby
theGuarantor.
• Mercedes-BenzSouthAfricaLtd(asIssuer)
andtheRandMerchantBank,adivisionof
FirstRandBankLtd(asArranger)inthe
RepublicofSouthAfricainconnectionwith
theissueofZAR1.5billionSeniorUnsecured
FloatingRateNotesdue14March2019and
ZAR500millionSeniorUnsecuredFloating
RateNotesdue13March2017.
• StandardBankofSouthAfricaLtdand
NedbankCapitalinconnectionwiththe
establishmentoftheSappiManufacturing
(Pty)LtdZAR3billionDomesticMedium
TermNoteProgrammeandthedebut
issuanceofnotesundertheprogramme.
• SteinhoffServicesLtd(asIssuer),andthe
Guarantors.TheStandardBankofSouth
AfricaLtd,actingthroughitsCorporateand
InvestmentBankingDivision(asArranger
andJSEDebtSponsor,andtheDealers
inconnectionwiththeamendmentand
restatementoftheSteinhoffServicesLtd
ZAR15billionDomesticMediumTerm
NoteProgramme.
• ToyotaFinancialServices(SouthAfrica)Ltd,
ToyotaMotorFinance(Netherlands)BV
(asGuarantor)inconnectionwiththeupdate
bytheIssuerofitsZAR7billionDomestic
MediumTermNoteProgrammeontheInterest
RateMarketoftheJSE.Wealsoadvisedthe
IssuerandAbsaCorporateandInvestment
Bank,adivisionofAbsaBankLtd,inrelationto
itsissueofZAR400millionSeniorUnsecured
FloatingRateNotesinadditiontovariousother
issuancesundertheprogrammefromtime
totime.
BOWMANS
11CONTENTS PAGE
• SappiLtdandSappiPapierHoldingGmbH
inconnectionwiththeissuebySappiPapier
HoldingGmbHofEUR250million6.625%
SeniorSecuredNotesandUSD350million
6.625%SeniorSecuredNotes.
• SappiLtdandSappiPapierHoldingGmbH
inconnectionwiththeissuebySappiPapier
HoldingGmbHofUSD400million7.750%
SeniorSecuredNotesandUSD300million
6.625%SeniorSecuredNotes.
• SappiLtdinconnectionwiththeissue
bySappiPapierHoldingGMBHof
EUR350millionunconditionallyguaranteed
seniorsecurednotestobeadmittedto
theOfficialListoftheLuxembourgStock
ExchangeandtotradeontheEuroMTFof
theLuxembourgStockExchange.Thenotes
areunconditionallyguaranteedbySappiLtd
pursuanttotheguaranteeandwillbeissued
on,andsubjectto,thetermsandconditions
assetoutintheofferingmemorandumand
endorsedonthenotes.Theinitialpurchasers
ofthenoteswereCréditAgricoleCorporate
andInvestmentBank,JPMorganSecurities
plc,UniCreditBankAG,CitigroupGlobal
MarketsLtd,ErsteGroupBankAG,KBC
BankNV,TheRoyalBankofScotlandplc.
TELECOMMUNICATIONS COMPANIES
• CellC(Pty)Ltdinconnectionwithits
issuanceofEUR270million11%Senior
SubordinatedNotes.
• CellC(Pty)Ltdinconnectionwithissuance
ofEUR400million85/8FirstPrioritySenior
SecuredNotes.
• DeutscheBank,BOFAMerrillLynch,Rand
MerchantBank,StandardBankandStandard
CharteredBankinrespectoftheRegulationS/
Rule144AUSD750million4.755%Guaranteed
NotesissuebyMTN(Mauritius)Investments
Ltddue11November2024andlistedonthe
IrishStockExchange.
• StandardBankofSouthAfricaLtdandRand
MerchantBankinconnectionwiththeMobile
TelephoneNetworksHoldings(Pty)Ltd
ZAR10billionamendedandrestated
DomesticMediumTermNoteProgrammeand
theissuanceofnotesundertheprogramme.
CONVERTIBLE BONDS EXPERIENCE
• BarclaysBankplc,JPMorganSecurities
plcandNedbankLtdinconnectionwith
theissuanceofZAR2billion7.25%Senior
UnsecuredConvertibleRegisteredBonds
byAvengLtd.
• RoyalBafokengPlatinumLtd(asIssuer)
ontheZAR1.2billionunsecured,convertible,
registeredbondissue.
• Themanagersinconnectionwiththeissueby
NetcareofZAR1.7billionconvertiblebonds.
• Themanagersinconnectionwiththe
issuebySteinhoffofEUR390million
convertiblebonds.
• Themanagersinconnectionwiththeissueby
SteinhoffofZAR1.6billionconvertiblebonds.
ASSET BACKED EXPERIENCE
• AbsaBankLtdconnectionwiththe
establishmentoftheAssetBackedArbitraged
Securities(Pty)LtdZAR15millionDomestic
AssetBackedSecuredNoteProgramme
andthedebutissueofnotesunder
theProgramme.
• FirstRandBankLtdandTheNitro
Securitisation4IssuerTrustinconnectionwith
theissuanceofZAR4billionAssetBanknotes
inconnectionwiththesecuritisationofmotor
vehiclefinancingreceivablesbyWesbank,
adivisionofFirstRandBankLtd.
Debt Capital Markets
12CONTENTS PAGE
• FirstRandBankLtdinconnectionwiththe
FreestoneFinanceCompany(Pty)Ltd
ZAR5billionCommercialMortgageBacked
SecuritisationProgrammeandtheissuing
ofnotesundertheProgramme.
• FirstRandBankLtdinconnectionwiththe
OntheCardsInvestmentsLtdZAR5billion
StorecardSecuritisationProgrammeand
theissuingofnotesundertheprogramme.
• FirstRandBankLtd,actingthroughits
LondonBranch,inconnectionwiththe
issuancebyTurboFinanceplcofGBP340
millionAssetBackedNotesinconnection
withthesecuritisationofmotorvehicle
financingreceivablesbyFirstRandBankLtd.
CROSS-BORDER EXPERIENCE
BOTSWANA
• LetshegoHoldingsLtdinconnection
withtheamendmentandrestatementof
LetshegoHoldingsLtdZAR2.5billion/
BWP2.5billionMediumTermNote
ProgrammeontheInterestRateMarketof
theJSEandtheBotswanaStockExchange,
andvariousnotesundertheProgramme.
NAMIBIA
• BankofWindhoekLtd(asIssuer),Investec
BankLtd(asLeadArrangerandDealer),
PSGCapital(Pty)Ltd(asJSEDebtSponsor),
PSGCapital(Pty)Ltd(asDealer)andPSG
WealthManagement(Namibia)(Pty)Ltd
(asNSXDebtSponsor)inconnectionwith
theestablishmentoftheBankofWindhoek
LtdZAR5billion/NAD5billionNote
Programmeandvariousissuances
undertheprogramme.
• FirstNationalBankofNamibiaLtd(asIssuer),
FirstRandBankLtd,actingthroughitsRand
MerchantBankdivision(asDebtSponsor,
DealerandArrangerandRMBNamibiaLtd
(asDealer)inconnectionwiththe
establishmentoftheFirstNationalBank
ofNamibiaLtdZAR5billion/NAD5billion
NoteProgrammeandissuancesofnotes
undertheprogrammelistedonthe
NamibianStockExchangeandJSELtd.
• IFC,inconnectionwiththeissuanceandlisting
ontheNamibianStockExchange(NSX)bythe
IssuerofNAD180million9.812%FixedRate
NotesunderitsPan-AfricanDomesticMedium
TermNoteProgramme,
inNamibia.
• LetshegoHoldingsLtdinrespectofthe
restructuringofLetshegoFinancialServices
(Namibia)PtyLtdtoLetshegoBankNamibia
Ltdandtheancillaryrestructuringofthe
securityarrangementspursuanttothe
securitysharingstructureunder
theirprogramme.
• StandardBankNamibiaLtd(astheIssuer)
andStandardBankofSouthAfricaLtd,acting
throughitsCorporateandInvestmentBanking
Division(asArranger,DebtSponsorandInitial
Dealer)inconnectionwiththeestablishment
bytheIssuerofStandardBankNamibiaLtd
ZAR10billionNoteProgrammeonthe
InterestRateMarketoftheJSELtd.
BOWMANS
13CONTENTS PAGE
Key Contacts
LOUISE CAMPBELL
Partner
Johannesburg,SouthAfrica
T: +27116699431
ULRIKE NAUMANN
HeadofFinance
Johannesburg,SouthAfrica
T: +27116699377
CASPER VAN HEERDEN
Partner
Johannesburg,SouthAfrica
T: +27116699354
CONTENTS PAGE
Cape Town
T: +27214807800
Dar es Salaam
T: +255768988640
Durban
T: +27312650651
Johannesburg
T: +27116699000
Kampala
T: +256414254540
Nairobi
T: +254202899000
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@Bowmans_Law
www.bowmanslaw.com
