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Sisulu congratulates Rand Water on SLBs

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Minister of Human Settlements, Water and Sanitation, Lindiwe Sisulu has congratulated Rand Water for successfully arranging the auction of over just R1.7 billion in senior and sustainability-linked bonds.  

Minister of Human Settlements, Water and Sanitation, Lindiwe Sisulu, on Thursday, 5 August 2021, congratulated Rand Water, the provider of water and sanitation and also an entity of the department, for successfully arranging an auction of just over R1.7 billion in senior and sustainability-linked bonds. The minister noted that this has attracted over R4,5 billion in capital market bids.

The Department of Water and Sanitation stated that this auction has come at a time when the capital markets have been considered to be closed for the funding of state-owned companies (SOC), which the department expressed to be a remarkable milestone in the sector. The department also stated that additionally, the insurance of two sustainability-linked bonds (SLBs) makes Rand Water the first state-owned entity on the African continent to issues an SLB.

The Department of Water and Sanitation pointed out that this was also the single largest ZAR-denominated SLB to be issued. It further stated that it has written that upon noting the achievement, Minister Sisulu encouraged Rand Water to use the proceeds of the bonds to assist the government in its efforts to revive the economy by ensuring everyone’s water security.

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Mahlohonolo Lakaje
[email protected]

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