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Linker Auction Size Rises to R1.2bn, Demand Slips

SOUTH AFRICA

Linker Auction Results:

  • Sells R500m (R110m) Rand 2029 Linkers; Bid-Cover 1.66x (5.84x), Avg yield 2.95% (3%)
  • Sells R565m (R570m) Rand 2038 Linkers; Bid-Cover 1.79x (1.5x), Avg yield 3.98% (4.1%)
  • Sells R135m (R410m) 2050 Linkers; Bid-Cover 2.26x (2.1x), Avg yield 3.98% (4.13%)

    Demand seen broadly lower across the auction with the notable downturn in 2029s mostly due to a larger auction size. Overall auction side increased from R1.09bn to R1.2bn.
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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