The National Treasury will subject to market appetite, switch the R153 government bond with a coupon of 13.0% maturing on 31 August 2010.
The switch auction will be conducted on 11 September 2008.
The destination bond for the auction is the R208 (6.75%: 2021).
The Terms and Conditions of the R153 (13.
The source bond for this auction is the R153 (13.0% : 2010) and the destination bond is the R208 (6.
Participants should switch from the source bond into the applicable destination bond mentioned above.
Participants should submit their bids for the destination bond at competitive yields.
Participants should submit their offers to switch a nominal amount of source bonds, at the released indicative yield, into the destination bond.
16.1 A facility is available to successful participants to top-up any odd-lots of the destination bonds allotted to the nearest R1 million.