Johannesburg, 21 April 2022 – FirstRand Bank, one of South Arica’s major lenders, yesterday listed two sustainability bonds on the Johannesburg Stock Exchange (JSE). The bonds will finance and refinance borrowers looking to invest in green buildings and affordable housing projects.

The two bonds, which have a total value of R2 billion, are part of a long-term programme to raise R72 billion for FirstRand’s sustainability projects.

The bonds are listed on the JSE’s Sustainability Segment, where they are trading under JSE codes FRJ27S and FRJ29S.

The Sustainability Segment was established by the Johannesburg-based bourse to assist companies to raise debt for green, social and sustainable investment projects.

Valdene Reddy, Director of Capital Markets at the JSE, said she is inspired by the commitment shown by South African corporates in balancing the imperative to generate returns for investors and supporting collective responsibility for mitigating climate change.

“It is encouraging that the proceeds that are going to be raised from bond issuances will be used to fund projects that will contribute to creating shared prosperity for a broad range of stakeholders including low-income and middle-income earners, developers, and shareholders,” explains Reddy.

Reddy added that the recent floods in KwaZulu-Natal are a sad and unfortunate reminder of the dangers that climate change poses.  

“We are experiencing extremities through severe droughts and devastating floods, which have proven catastrophic for food security and caused untold damage to infrastructure and human lives. The Sustainability Segment has become an important platform for helping issuers raise capital for climate-friendly projects,” Reddy says.

The bonds listed yesterday by FirstRand Bank have brought the number of sustainability bonds listed on the JSE to 44, raising the segment’s market capitalisation of R23.2 billion

                                                                                 ENDS

ABOUT THE JSE

The Johannesburg Stock Exchange (JSE) has a well-established history operating as a regulated marketplace for trading listed securities. The JSE is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent.

The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for over 130 years.

As a leading global exchange, the JSE co-creates, unlocks value and makes real connections happen.

www.jse.co.za