Bond AbsaBanque 0% ( ZAG000187824 ) in ZAR

Issuer	AbsaBanque
Market price	100 % ⇌
Country	South Africa
ISIN code	ZAG000187824 ( in ZAR )
Interest rate	0%
Maturity	02/05/2023 - Bond has expired
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Minimal amount	1 000 000 ZAR
Total amount	50 000 000 ZAR
Detailed description	Absa Bank is a leading African financial services group offering a range of banking, wealth, and insurance solutions across various countries, primarily in Africa. A review of the South African bond market highlights a recently matured debt instrument, identified by ISIN ZAG000187824, issued by Absa Bank, a leading financial services group headquartered in South Africa with significant operations across the continent, offering a comprehensive suite of retail, corporate, and investment banking solutions. This particular bond, denominated in South African Rand (ZAR) and boasting a total issue size of 50,000,000 ZAR with a minimum purchase size set at 1,000,000 ZAR, was characterized by a 0% interest rate, indicating its structure as a zero-coupon bond designed for repayment at par; its observed market price stood at 100% as it approached the end of its term. With a payment frequency of '1' and a maturity date of May 2, 2023, this bond has since fully matured and been repaid, signifying a completed and successful financial cycle for the issuer and its bondholders.