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Bond Auction Sees Sizable Pick-up In Demand Ahead Of GDP

SOUTH AFRICA
Auction result
  • ZAR 2.2bn of R182 Bonds , Bid to cover 3.28x (1.37x), yield 6.85%
  • ZAR 2.2bn of 8.25% 2032 Bonds, bid to cover 3.69x (2.51x) & yield 9.86% (9.82%)
  • ZAR 2.2bn of 8.75% 2048 Bonds; Bid to Cover 3.50x (2.82x), yield 11.008% (10.95%)
  • Notable pickup in demand across the entire auction (as expected) ahead of SA GDP data as evidenced by strong bid to covers
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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