July 15 (Reuters) – South Africa’s state-owned TCTA, which finances and manages bulk water projects, said on Thursday it would auction up to 100 million rand ($13.26 million) of its WS04 bond later in the day.

The WS04 bond matures on May 30, 2016 and has a coupon rate of 12.5 percent.

Closing time for bids through the TCTA’s panel, including Absa Capital (ASAJ.J), Deutsche Bank (DBKGn.DE), Investec (INLJ.J), Nedbank (NEDJ.J) and Standard Bank (SBKJ.J), is 0800 GMT.

The results will be announced at 0830 GMT on Thursday. (Reporting by Phumza Macanda)