{"id":13082,"date":"2012-05-21T15:26:51","date_gmt":"2012-05-21T13:26:51","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=13082"},"modified":"2012-05-22T12:26:37","modified_gmt":"2012-05-22T10:26:37","slug":"gijima-secures-long-term-funding-extension","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/13082\/gijima-secures-long-term-funding-extension\/","title":{"rendered":"Gijima secures long term funding extension"},"content":{"rendered":"<p>Listed ICT group, <a title=\"GijimaAST\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2341-Gijima\">Gijima<\/a> says it has secured the extension of its long-term debtors securitisation funding programme, initiated in July 2006.<\/p>\n<p>The company issued R300 million class A secured debentures to investors in the capital markets.<\/p>\n<p>The R300 million class A debentures comprise R150 million class A1 debentures maturing on 30 June 2015, and R150 million class A2 debentures maturing on 30 June 2012.<\/p>\n<p>The programme&#8217;s transaction documentation makes provision for the extension of maturing debentures on or before the relevant maturity dates, the group said.<\/p>\n<p>\u201cGijima has secured written confirmation from the existing investors in the R150 million Class A2 secured debentures maturing on 30 June 2012 that these investors have elected to subscribe for a new issue of R150 million class A debentures,\u201d Gijima said in a statement.<\/p>\n<p>The salient terms of the new issue of Class A debentures are the following:<\/p>\n<ul>\n<li>Amount: R150 million class A secured debentures;<\/li>\n<li>Duration: 5 years, with a maturity date of 30 June 2017;<\/li>\n<li>Interest convention: Non-amortising interest only; capital bullet on maturity;<\/li>\n<li>Interest rate: a fixed interest rate linked to the applicable 5 year benchmark at the date of issue.<\/li>\n<\/ul>\n<p>Gijima said that the R150 million class A1 debentures, which are scheduled to mature on 31 June<\/p>\n<p>2015 remain in issue and are unaffected by the extension of the programme for a further 5 year period. The Company will assess its funding requirements prior to the maturity of the class A1 debentures on 30 June 2015.<\/p>\n<p>The group advised its shareholders to continue to exercise caution when dealing in its shares until a full announcement is made.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listed ICT group, Gijima says it has secured the extension of its long-term debtors securitisation funding programme, initiated in July 2006.<\/p>\n","protected":false},"author":9,"featured_media":4583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[25,641,767],"class_list":["post-13082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-active","tag-gijima","tag-ict"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=13082"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13082\/revisions"}],"predecessor-version":[{"id":13086,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/13082\/revisions\/13086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/4583"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=13082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=13082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=13082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}