Staff Writer
Nedbank Group Limited has expanded its Domestic Medium-Term Note programme to R75 billion, up from R40 billion, following amendments aimed at meeting updated regulatory and disclosure requirements.
The bank said the changes are set out in the amended and updated DMTN Programme Memorandum dated February 4, 2026, which replaces the previous memorandum issued on 8 February 2019.
Nedbank originally established the R40 billion programme to issue secured or unsecured notes, as well as subordinated or unsubordinated instruments, from time to time. The revised memorandum reflects both the increase in programme size and a broader update of the document.
The group said the programme has been revised to comply fully with the JSE Debt and Specialist Securities Listings Requirements. The update includes changes to the introduction, definitions, and various sections of the document, as well as the overall structure of the memorandum.
The scope of the programme has also been expanded to include Financial Loss Absorbing Capacity instruments. Nedbank said it has introduced a standalone Risk Factors and Other Disclosures Statement, which outlines risks that could affect the issuer’s ability to meet its obligations under the notes, as well as market risks linked to the instruments.
The statement also covers banking and prudential regulation in South Africa, exchange control, taxation, subscription and sale procedures, and the settlement, clearing and transfer of notes.
In addition, the group has added a separate information statement. This provides details on Nedbank Group’s business activities, management, directors and corporate governance, as well as information on conflicts of interest, the debt officer and other corporate matters linked to the programme.
The JSE approved the amended DMTN Programme Memorandum last week, according to Nedbank. The updated memorandum, together with the information statement and the risk factors and other disclosure statements, is available on the group’s debt investor website.
Caption
Nedbank Group Limited has increased its bond programme size from R40 billion to R75 billion.
- Photo: Contributed
