NAMIBIAN STOCK EXCHANGE: DAILY MARKET REPORT
February 10, 2010
                         
BONDS LISTED ON THE NSX            
         
FITCH SOVEREIGN RATING (initial 07/12/2005 subsequently again reconfirmed 10 December 2009 ): BBB-(minus) for long term foreign currecy; BBB for long term local currency; 
1 These indicative yields on the bonds have been provided by the 4 commercial banks in Namibia on 10 Feb'10        F3 for short term foreign currenct; A-(minus) country ceiling 
2 The GRN bonds are benchmarked to South African bonds as shown in column L    
Secondary Trades Reported to the Namibian Stock Exchange Indicative yield1 Benchmark2   29-Jan-10 Primary Tender
Sovereign Rated
Listed Bonds*
Isin code Code Last
Trade
Date
 Nominal
Values 
Current Yield % Previous Yield %  Number of rates used   Day
Low
 % 
 Day
High
% 
 Day
Ave
% 
RSA
Bond
Volume
Year to Date
Nominal
Outstanding
Amount
Allotted
Tender/
Last Issue
Date
Average Yield% Previous
Ave Yield%
Coupon
Rate
Maturity Date
Namibia Government Bonds*  
GRN 2010  NA000A0G20N5 GC10 15-Dec-09      1,000,000 7.10% 7.30%  Redeemed 15 January 2010                                    -    Redeemed 15 January 2010   
GRN 2012 NA000A0G20P0 GC12 29-Jan-10      3,400,000 8.10% 8.10%            4      8.14      8.24      8.20 R153             15,980,000    1,369,500,000            10,000,000 11-Dec-09 8.23% 11.77% 10.50% 15-Oct-12
GRN 2015  NA000A0G20Q8 GC15 9-Feb-10    25,230,000 8.92% 8.96%            4      8.91      9.15      9.05 R157             45,570,000    1,647,270,000            37,300,000 6-Sep-06 10.02% 9.9% 13.00% 15-Apr-15
GRN 2018 NA000A0TWQQ1 GC18 29-Jan-10      2,000,000 9.20% 9.25%            4      9.21      9.51      9.37 R204             13,400,000       759,000,000            20,000,000 11-Dec-09 9.44% 11.11% 9.50% 15-Jul-18
GRN 2024  NA000A0G20R6 GC24 10-Feb-10    15,000,000 9.50% 9.49%            4      9.60      9.80      9.70 R186             50,000,000    1,543,220,000            20,000,000 11-Dec-09 9.54% 11.00% 10.50% 15-Oct-24
                 5           124,950,000    5,318,990,000  
State Owned Enterprises
Road Fund Admin 10 Loan Stock 2010 NA000A0TXDK0  RFA10 15-Dec-09      2,000,000 8.55% 8.20%            4      8.50      8.62      8.55 R153                           -         350,000,000          100,000,000 7-Dec-04 13.00% 21-Nov-10
Telecom Namibia Limited NA000A0TURW1  TCN15            4      9.87      9.95      9.90                             -           93,000,000            93,000,000 17-Apr-08 10.70% 10.70% 17-Apr-15
Road Fund Admin 16 Loan Stock 2016 NA000A0G20K1 RFA16 3-Nov-09         490,000 9.96% 11.89%            4      9.88      9.99      9.92                             -         330,000,000          330,000,000 31-Aug-06 10.38% 9.50% 31-Jan-16
Telecom Namibia Limited NA000A1AS1B0 TCN16                   44,000,000            44,000,000 3-Feb-10 10.31% 3-Feb-16
Telecom Namibia Limited NA000A1AS1C8 TCNF01                   10,000,000            10,000,000 3-Feb-10 8.75% 3-Feb-16
NamPower 2019 NA000A1APT39 NMP19N            4      9.65      9.94      9.80                             -         250,000,000          250,000,000 10-Nov-09 10.00% 10-Nov-19
NamPower 2020 ZAG000041815 NMP20N 20-Jan-10      5,000,000 10.29% 9.15%            4    10.09    10.21    10.12 NMP20               5,000,000       500,000,000          500,000,000 17-Jul-07 9.35% 9.35% 24-Jul-20
                 5               5,000,000    1,577,000,000  
Commerical Banks    
Bank Windhoek 2015  NA000A0G20H7 BW10 2-Dec-05    10,000,000 9.15% 9.80%            4      8.60      9.45      9.11  R153                            -           50,000,000            50,000,000 15-Aug-05 10.05% 10.50% 15-Aug-10
        40,000,000            40,000,000 3-Oct-05 9.97% 15-Aug-10
   Step up rate (see offering circular)  15-Aug-10  GC 15 + 2.75%  15-Aug-15
STD Bank Namibia 2011 NA000A0G20T2 SBNK11 22-Oct-09    92,400,000 8.66% 8.85%            4      8.49      8.64      8.59                             -         216,000,000          216,000,000 7-Jul-06 10.05% 7-Jul-11
STD Bank Namibia 2014 NA000A1AN5R2 SBKN14 27-Jan-10    20,000,000 9.55% 9.54%            4      9.41    10.32      9.80               46,000,000       210,000,000          210,000,000 23-Oct-09 10.21% 23-Oct-14
Bank Windhoek 2019 NA000A0T6EH9  BW19            4    10.47    11.13    10.96                             -         100,000,000          100,000,000 4-Feb-09 10.16% 4-Feb-14
 Step up rate (see offering circular)  4-Feb-14 4-Feb-19
STD Bank  Namibia 2016 NA000A0G20U0 SBNK16 26-Sep-08    10,000,000 10.40% 9.66%            4      9.85    10.15    10.01                             -         100,000,000          100,000,000 7-Jul-06 10.49% 7-Jul-16
STD Bank  Namibia 2016 NA000A0G20V8 SBN2016 24-Jun-09      1,000,000 8.69% 9.96%            4      8.58      8.75      8.70 R153                           -         150,000,000 20-Nov-06 9.74% 20-Nov-16
First National Bank of Namibia NA000A0NQ6D3  FNB17 24-Jun-09      3,000,000 8.69% 9.96%            4      8.58      8.69      8.64                             -         260,000,000          260,000,000 29-Mar-07 9.15% 9.15% 29-Mar-12
 Rate change (see offering circular)  29-Mar-12 91 Day TB% + 1.5% 29-Mar-17
  7             46,000,000    1,126,000,000  
Corporate bonds  
           
                   -                                           -                          -              
Total listed              17  Total '10            175,950,000    8,021,990,000
2010 Summary Totals Government SOE's  Banks  Traded ytd  2.2%
  In issue - millions                     8,022               5,319         1,577             1,126  Total '09         1,411,841,632
 Traded millions                        176                  125                5                  46  Total '08            541,310,000
 %  2.2% 2.3% 0.3% 4.1%  Total '07         1,105,511,908
 Total '06         1,288,580,000
 Total '05         1,826,420,500
 Total '04            576,884,300
 Total '03            475,174,620
TREASURY BILLS Previous Discount rate 29-Jan-10 Amount
Allotted
Date of Tender Closing date of tender Discount
rate
 Maturity
Date 
 
91-Day 7.09%       430,360,000          150,000,000 5-Feb-10 4-Feb-10 6.95% 7-May-10
182-Day 7.22%       950,000,000          150,000,000 4-Feb-10 3-Feb-10 7.14% 5-Aug-10
365-Day 7.47%    2,130,000,000          100,000,000 5-Feb-10 4-Feb-10 7.23% 4-Feb-11
Total TB's    3,510,360,000    
Combined Total  11,532,350,000