Fortress Real Estate Investments Limited (Fortress) is pleased to announce the successful issuance of R1.056 billion under its Domestic Medium-Term Note (DMTN) programme, concluded on Friday 20 March 2026.
The issuance comprised two tranches:
- R561 million 3-year notes priced at a margin of 95 basis points over 3-month JIBAR
- R495 million 5-year notes priced at a margin of 113 basis points over 3-month JIBAR
The transaction was met with strong investor demand, attracting total bids of R3.749 billion, resulting in a significant oversubscription.
The outcome reflects continued support from a broad range of institutional investors and highlights improving sentiment in South Africa’s domestic credit markets. The pricing achieved represents a meaningful tightening in spreads compared to Fortress’ prior issuances, underscoring enhanced funding efficiency and growing confidence in the Fortress’ credit profile.
Commenting on the issuance, Chief Financial Officer Ian Vorster said: “The strength of demand and the quality of the order book are encouraging indicators of improving conditions in the South African credit market. It also reflects growing confidence in Fortress’ balance sheet and our disciplined approach to capital management. We are pleased to have achieved competitive pricing while further extending our maturity profile.”
Proceeds from the issuance will be used to refinance existing debt and for general corporate purposes. The transaction supports Fortress’ ongoing funding strategy to optimise its capital structure, diversify funding sources, and maintain a well-managed debt maturity profile.
Fortress remains committed to prudent financial management and to accessing capital markets efficiently to support its portfolio and growth objectives.