---
title: "Momentum Metropolitan Lists R1.5bn New JSE Notes"
description: "Momentum Metropolitan Life Limited received JSE approval to list three unsecured subordinated notes, totaling R1.5 billion, under its note programme."
canonical_url: "https://liners.com/news/momentum-metropolitan-jse-notes-mml12-mml13-mml14"
markdown_url: "https://liners.com/news/momentum-metropolitan-jse-notes-mml12-mml13-mml14.md"
type: "article"
language: "en"
published_at: "2026-11-06T09:16:07.066Z"
updated_at: "2026-11-06T09:16:11.438Z"
---

# Momentum Metropolitan Lists R1.5bn New JSE Notes

Momentum Metropolitan Life Limited received JSE approval to list three unsecured subordinated notes, totaling R1.5 billion, under its note programme.

## Breadcrumbs

- [News](/news)
- [Momentum Metropolitan Lists R1.5bn New JSE Notes](/news/momentum-metropolitan-jse-notes-mml12-mml13-mml14)

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## Content

## In Short
Momentum Metropolitan Life Limited has received JSE approval to list three new debt instruments under its Unsecured Subordinated Note Programme.

## What Happened
Momentum Metropolitan Life Limited, incorporated in South Africa, said the JSE Limited granted approval for a new financial instruments listing under its Unsecured Subordinated Note Programme dated 4 November 2019. The programme is guaranteed by Momentum Group.

The authorised programme size is R10,000,000,000.00. Momentum Metropolitan Life said the total amount in issue after the new issuances will be R7,000,000,000.00.

The three tranches total R1.5 billion. They include:

- MML12, a floating rate note with R300,000,000.00 nominal issued, issue price of 100%, and maturity date of 5 May 2032. The interest rate is Compounded Daily ZARONIA with a 5 business day lookback period without observation shift, plus a margin of 100 bps.
- MML13, a fixed rate note with R850,000,000.00 nominal issued, issue price of 100%, and maturity date of 5 May 2032. The interest rate is 8.82%.
- MML14, a fixed rate note with R350,000,000.00 nominal issued, issue price of 100%, and maturity date of 5 November 2033. The interest rate is 9.03%.

All three notes are described as unsecured subordinated. Subordinated means the debt ranks behind some other debts if the issuer cannot pay everyone back.

Momentum Metropolitan Life said the notes will be dematerialised in the Central Securities Depository, which means ownership is recorded electronically rather than through paper certificates. Settlement will take place electronically in terms of JSE Rules.

The debt sponsor is Nedbank Corporate and Investment Banking, a division of Nedbank Limited.

## Why It Matters
These listings add new instruments for investors in South Africa’s listed debt market, and they raise the programme’s outstanding amount to R7 billion under a R10 billion limit. One tranche uses ZARONIA, a newer benchmark interest rate, and the notice flags additional risk factors related to ZARONIA, including how it differs from JIBAR and the possibility that ZARONIA provisions may be amended or discontinued.

## Sources and products

- [Sharenet](https://www.sharenet.co.za/v3/sens_display.php?tdate=20261103103335&seq=25&scode=)
- [Momentum](/momentum)

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