RMBarrangesFirstRand’smarket-leadingwomen-ownedbusinesssocialbond

8 May 2025

RMB arranges FirstRand’s market-leading women-owned business social bond issuance

Rand Merchant Bank (RMB) is proud to have acted as Mandated Lead Arranger and Sustainability Co-ordinator for FirstRand Bank’s inaugural women-owned business bond, successfully issued on 1 April 2025. 

The bond raised R2.533 billion across 3-, 5-, and 7-year maturities, with the auction nearly three times oversubscribed. Investor participation was strong, with 15 bidders and 13 allocations.

“Proceeds from this issuance are specifically earmarked for lending to women-owned businesses by FNB. This has been a long-term focus area for FNB, with a book of over R50 billion already originated in this segment of the market,” said Harry Kellan, CEO of FNB.

This is the second social bond issued under FirstRand’s sustainable finance framework, following the inaugural social bond issued in 2024. 

“The women-owned business social bond is another example of how RMB and FNB are innovating to support the growth needs of South African businesses which will, in turn, unlock long-term social and economic value,” added Emrie Brown, RMB CEO.

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