The Department of Finance announces that it has appointed SCMB, a division of The Standard Bank of South Africa Limited, as Marketing and Education Advisors for its planned issue of inflation indexed bonds. The role of SCMB will also include the provision of technical assistance to the Department regarding the structure and pricing conventions for inflation indexed bonds in South Africa, as well as the dissemination of related information to the market.
The Department has decided that the bonds will be sold by an open auction. When the specifications have been finalised, an announcement will be made in respect of future auction dates. It is anticipated that the first auction will be executed before 31 March 2000.