CAPE TOWN - BNP Paribas Personal Finance South Africa Limited (trading as RCS) is pleased to announce the successful placement of R750 million in notes under its capital markets programme, guaranteed by the listed entity, BNP Paribas (France).
The notes raised over R3.6 billion in demand on a minimum target issuance of R500 million, making the placement 7.3 times subscribed.
RCS placed two notes, namely, a 12 month and a three-year note, issuing R200 million and R550 million respectively – both of which cleared below prior year placements and below price guidance.
BNP Paribas (France), through its wholly owned subsidiary BNP Paribas Personal Finance (France), acquired 100% of RCS Investment Holdings Ltd (South Africa) in August 2014.
RCS Investment Holdings Ltd was renamed BNP Paribas Personal Finance South Africa Limited in January 2017.
RCS Deputy CEO, Chris de Wit says, “We are thrilled about the interest showed in the company. As one of the fastest growing financial institutions in South Africa, our aim in the next few years is to expand the depth and breadth of our product offerings so that it will meet the needs of our broader South African market.”
-BUSINESS REPORT ONLINE