25 Nov Success of IDC bond demonstrates market confidence in company’s growth trajectory
Against the backdrop of a challenging market environment, investors have expressed confidence in the Industrial Development Corporation’s (IDC) growth trajectory. The IDC has successfully issued R1.721 billion in bonds, including exchange offers, in response to a total bid volume of R1.921 billion.
The Corporation’s role in driving South Africa’s economic and industrial development in South Africa, as well as its broader impact across Africa, among others was a key factor behind the significant demand from investors. The order book highlighted notable investor interest, with most allocations concentrated in the long-term tenors, particularly the 10-year segment, along with smaller portions in the 7- and 5-year tenors.
“The size of the order book and the long-term allocations demonstrate the confidence investors have in IDC’s future growth,” said IDC Chief Financial Officer Isaac Malevu. He emphasized that this outcome aligns with IDC’s ongoing commitment to fostering sustainable economic growth and industrial development.
The strong market support positions the IDC well for future capital market engagements, reinforcing the importance of a solid balance sheet to further accelerate funding efforts, both locally and across the continent.
Issued by
Tshepo Ramodibe
Head of Corporate Affairs
For enquiries contact:
Chimwemwe Mwanza
Media Relations
Email: Chimwemwem@idc.co.za