Rand Water has settled the RW21 bond that was issued ten years ago under its JSE-listed R10-billion Domestic Medium Term Note Programme.
The settlement of the bond demonstrated the financial viability of Rand Water, the agency said in a statement.
The proceeds raised on this paper were fully used to cover Rand Water’s augmentation programmes to increase the supply capacity to its customers.
“Rand Water CEO Sipho Mosai and his management have demonstrated the organisation’s prudent financial capability with a nominal amount of about R1.7-billion. The final coupon amount has now been redeemed,” Rand Water said.