FirstRand Bank Limited has announced a full capital reduction of its FRB31 Tier 2 notes, taking their nominal amount from R2 500 000 000.00 to R0.00. The notification was issued on 23 October 2026, and the notes will be paid and redeemed early on 24 November 2026.
The reduction is due to the early redemption of the notes by the bank, in accordance with their terms and conditions. The settlement and redemption amount is R2 500 000 000.00.
TERMS OF THE REDUCTION
The notes carry the bond code FRB31 and ISIN ZAG000181520. Their nominal amount before the reduction was R2 500 000 000.00, and the reduction in nominal amount is R2 500 000 000.00.
After the reduction the nominal amount will be R0.00. FirstRand Bank Limited is acting as the debt sponsor for the capital reduction.
TIMETABLE FOR NOTEHOLDERS
The record date for the capital reduction is 23 November 2026. The pay date, which is also the early redemption date, follows on 24 November 2026.
The announcement was published at 08:00:00 on 23 October 2026, advising noteholders of the full capital reduction.
PROGRAMME AND ISSUER DETAILS
The notice was issued under the terms and conditions of FirstRand Bank's domestic medium term note (DMTN) programme, which is dated 13 April 2021, as amended or supplemented from time to time.
FirstRand Bank Limited is incorporated in the Republic of South Africa under registration number 1929/001225/06. Its issuer code is FRII and its LEI is ZAYQDKTCATIXF9OQY690.
FirstRand Ltd. is listed on the JSE under the ticker FSR. The SENS service is an information dissemination service administered by the JSE Limited.