TOYOTA FIN SERVICES (SA) LIMITED - Notification of Amendment and Restatement to the Domestic Medium Term Note Programme
What this filing means
Toyota Financial Services (South Africa) has amended and restated its Domestic Medium Term Note Programme under a memorandum dated 6 November 2026, removing JIBAR references and building in ZARONIA (or other replacement benchmarks) as a reference rate ahead of JIBAR's expected cessation on 31 May 2027. The accompanying information statement has also been updated, including board changes since the May 2025 memorandum. The JSE has approved and registered the document, which applies to notes issued on or after the programme date.
South Africa is transitioning away from JIBAR, which is expected to cease publication on 31 May 2027, and has introduced ZARONIA as a replacement reference rate. Toyota Financial Services (South Africa) has therefore rewritten the master rulebook for its note issuance to match. The filing states that the restated memorandum applies to notes issued on or after 6 November 2026; it does not state the effect on notes already in issue. No new money is raised by this notice — it is a documentation change that sets the rules for future issuance.
AI-generated summary by SENS-AI, based on the original JSE SENS filing.
SENS-AI conclusion
A documentation event, not an economic one. The programme memorandum has been amended and restated to align with the national shift from JIBAR to ZARONIA, and the separate information statement has been refreshed, including board changes since May 2025. The JSE has approved and registered it, and the filing states it applies to notes issued on or after the programme date of 6 November 2026; this announcement does not state the effect on notes already in issue. So what: the terms of the next note actually issued under the restated programme are where the market sees what the ZARONIA-based documentation produces.
Any note subsequently issued under the restated programme will be governed by the amended documentation, with its pricing terms to be established at issuance.
Evidence from the filing
The restatement is a benchmark-reform alignment, not a new financing.
“As part of the broader South African benchmark reform programme, South Africa is transitioning from”
The new memorandum replaces JIBAR references with ZARONIA or other replacement benchmarks.
“remove references to JIBAR and incorporate the relevant provisions applicable for the use of ZARONIA (or other replacement benchmarks) as a Reference Rate”
The document has been approved and registered by the JSE.
“The Amended and Restated Programme Memorandum has been approved by and registered with the JSE.”
The new memorandum governs only notes issued from the programme date onward.
“The Amended and Restated Programme Memorandum will apply to all Notes issued under the Programme on or after the Programme Date”
The announcement is a summary only and points readers to the full document.
“This announcement only contains a summary of the amendments to the Previous Programme Memoranda and therefore does not contain the full or complete details of the amendments.”
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