Bond AbsaCorp 0% ( ZAG000109661 ) in ZAR

Issuer	AbsaCorp
Market price	100 % ⇌
Country	South Africa
ISIN code	ZAG000109661 ( in ZAR )
Interest rate	0%
Maturity	20/12/2018 - 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. A bond issued by Absa Group with the ISIN ZAG000109661, which matured on December 20, 2018, has been fully redeemed. Absa Group, a leading diversified financial services group headquartered in South Africa, stands as a prominent player across the African continent, offering a comprehensive range of banking, insurance, and wealth management solutions. This specific debt instrument, denominated in South African Rand (ZAR) and issued from South Africa, represented a total issue size of ZAR 50,000,000. It was structured as a zero-coupon bond, characterized by its 0% interest rate, implying that investors derived returns from the discount at which the bond was originally purchased rather than through periodic coupon payments, despite a nominal payment frequency of 1. The minimum investment threshold for this particular bond was set at ZAR 1,000,000. Upon reaching its maturity date, the bond's market valuation stood at 100% of its face value, confirming its successful and timely repayment to bondholders.