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Biz News. The city was able to raise its targeted R1-billion from eight allocated bidders having received bids of almost R5-billion from 31 different bidders. The bond has a year term and was issued at a spread of basis points over the R government bond. The CBI accreditation process involved a comprehensive, in-depth pre- and post-issuance assurance by an independent verifier approved by the CBI. In addition, the city has undertaken to provide ongoing reporting to the bondholders on the application of the use of proceeds.
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