HARCOURT STREET 1 (RF) LIMITED - New Financial Instrument Listing Announcement H137T6
What this filing means
Harcourt Street 1 (RF) Limited has listed a new ZAR85,000,000 senior secured fixed rate note, code H137T6, on the JSE Interest Rate Market with effect from 30 October 2026. The notes are to be issued at 100% of nominal, with interest first payable on 30 January 2027. The filing also prints a final maturity date of 30 January 2026, which sits before the issue date and is not reconciled in the text.
Harcourt Street is scheduled to issue R85 million of a new bond and list it on the JSE's interest rate market on 30 October 2026, a day after this notice. Investors are to pay 100% of face value and earn a fixed rate set at issue, with the first interest payment due in January 2027. One date does not line up: the stated final maturity falls before the note is even issued, so the notice does not tell you when the money is actually repaid.
Bear case
- The filing gives the final maturity date as 30 January 2026, which falls before the 30 October 2026 issue date and the 30 January 2027 first interest payment date; the filing does not reconcile the dates.
- The coupon is described as the fixed rate equivalent of 3-month JIBAR on the Issue Date plus 0.44%, but the filing does not print the all-in rate.
AI-generated summary by SENS-AI, based on the original JSE SENS filing.
SENS-AI conclusion
A routine listing notice for a new ZAR85 million note: the mechanical step of admitting a tranche to the Interest Rate Market. It tells you the size, the issue price and the coupon formula, but nothing about the issuer's finances or why the money was raised. The one thing worth flagging is the final maturity date printed as 30 January 2026, ahead of the issue date, which the notice does not explain. So what: the next Harcourt Street results or the annual financial statements are where the market can judge the debt stack this note sits in.
The issuer's next financial statements are where the size and cost of this note can be seen against the rest of its debt.
Evidence from the filing
The JSE has granted the listing with effect from 30 October 2026.
“The JSE Limited has granted a listing to HARCOURT STREET 1 (RF) LIMITED on the Interest Rate Market with effect from 30 October 2026.”
The tranche is ZAR85,000,000 issued at 100% of nominal.
“Nominal Amount Issued ZAR85,000,000”
The stated final maturity date precedes the issue date.
“Final Maturity Date 30 January 2026”
The coupon is a formula, not a printed all-in rate.
“The fixed interest rate determined by the Calculation Agent on the Interest Commencement Date, being the fixed rate per annum equivalent of the sum of (a) 3 months JIBAR on the Issue Date; and (b) 0.44%”
The pricing supplement adds no new terms to the programme documents.
“The Pricing Supplement does not contain additional terms and conditions or changes to the terms and conditions as contained in the Programme Documents.”
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