JOHANNESBURG – Ecsponent on Monday announced that it had published a prospectus in respect of a R10 billion Domestic Medium Term Note Programme (DMTN Programme).
The notes offered via this programme are JSE-listed medium-term, fixed interest-bearing securities that offer retail, corporate and institutional investors access to superior interest rates.
There are multiple options, offering fixed or floating interest rates between 9 percent and 12 percent per annum and monthly interest payments, with a fixed three-year maturity. There is also a zero-coupon option, offering 10.66 percent per annum paid at the end of the three-year term.
The retail notes can be purchased in R100 denominations with a minimum investment requirement of R10 000. Once listed, they can be traded through the JSE.
“These notes provide investors with an easy and inexpensive alternative to receive stable interest income that can be offset against exempt interest allowances. They offer an alternative asset class for individual investors looking to maximise their returns over the medium term, and manage portfolios diversified by asset class,” said Ecsponent chief executive Terence Gregory.