FirstRand roadshows rare South African tier two
South African FirstRand Bank Limited is embarking on a roadshow for a Reg S tier two bond via JP Morgan, Standard Chartered Bank and Royal Bank of Scotland, its co-ordinators and joint bookrunners. The note will most likely be a 10 year or a 10 year non-call five, according to an origination official on the deal.
Rand Merchant Bank and Morgan Stanley are also acting as joint bookrunners.
The meetings start on 12 November and will visit Europe and Asia. The tier two note will be issued under FirstRands $1.5bn EMTN programme.
There have been tier two deals done in South Africa before but none in
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