The four-and-a-half-year bond, with a coupon of 5 percent is the fourth Swiss issue by the bank, commonly known as Abil, since
Abil has struggled to recover loans in the past year as distressed borrowers failed to repay.
In November, it issued shares worth R5.5bn to strengthen its balance sheet.
"If Swiss investors are happy to lend them money at this coupon, that gives the local shareholders some comfort," said
Its shares rallied as much as 7 percent, and ended the day up 5.8 percent at R9.90.
The stock is down 18 percent so far this year, after losing about half its value last year.
The unsecured lender has also raised another
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