Bond AbsaCorp 0% ( ZAG000101205 ) in ZAR

Issuer	AbsaCorp
Market price	100 % ⇌
Country	South Africa
ISIN code	ZAG000101205 ( in ZAR )
Interest rate	0%
Maturity	20/06/2017 - Bond has expired
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Minimal amount	1 000 000 ZAR
Total amount	50 000 000 ZAR
Detailed description	Absa Group Limited is a leading African financial services group offering banking, wealth, and insurance solutions across twelve countries in Africa, with significant operations in South Africa, and international presence in several key global financial centres. An analysis of a specific debt instrument, identified by its ISIN code ZAG000101205, reveals its full redemption upon maturity. This bond, issued by Absa Group, a prominent South African financial services provider with extensive operations across the African continent, successfully concluded its lifecycle on June 20, 2017. Absa Group, headquartered in Johannesburg, is recognized as one of Africa's largest diversified financial services groups, offering a comprehensive suite of banking, wealth management, and insurance products to individuals, businesses, and institutions. The bond, denominated in South African Rand (ZAR) and issued in South Africa, had a total issue size of 50,000,000 ZAR. Investors were required to make a minimum purchase of 1,000,000 ZAR. Notably, the bond carried a stated interest rate of 0%, indicating it might have been a zero-coupon instrument or structured in a way where the yield was embedded in its initial pricing rather than periodic interest payments. Despite the 0% stated interest rate, the bond's final market price at redemption was 100% of its par value, ensuring that principal was fully returned to bondholders. While a payment frequency of "1" was specified, in the context of a 0% interest rate, this primarily pertained to the single principal repayment at maturity. This financial instrument has now completed its term, having been fully repaid to its investors.