FNB launches Basel III-compliant Tier 2 note

Chelva Wells

2024-12-13

WINDHOEK, 13 December 2024 - Selma Kapeng, FirstRand Namibia Group Treasurer. (Photo: contributed) NAMPA

WINDHOEK, 13 DEC (NAMPA) – First National Bank of Namibia (FNB) has issued a Basel III-compliant Tier 2 Capital Note valued at N.dollars 500 million.
RMB acted as arranger for the issuance, which falls under FNB Namibia’s NSX-listed Domestic Medium-Term Note (DMTN) Programme.
The issuance represents the first Basel III-compliant note to be placed in the Namibian market.
Total bids reached N.dollars 725 million from 10 investors, leading to the...

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