Nedbank Capital: R362m Delta bond placed

Nedbank Capital had been appointed sole lead arranger and dealer to raise R362 million for listed Delta Property Fund in its inaugural secured bond, the bank said yesterday. Bruce Stewart, the head of structured products and debt origination at Nedbank Capital, said the three-year senior secured bond was issued under Delta’s new R2 billion domestic medium-term note programme. “The bond was privately placed at a spread of 150 basis points over the three-month Johannesburg interbank agreed rate and the finance raised at an all-in-cost to Delta of less than 7 percent.” – Roy Cokayne