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Impact of repurchase of additional USD notes issued under African Bank’s USD6 billion EMTN Program
AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
Company code: ABKI
(“the Bank” or “African Bank”)
Impact of repurchase of additional USD notes issued under African Bank’s USD6 billion EMTN
Program
African Bank hereby announces that it has repurchased certain USD denominated notes (“Notes”or
“the Notes”) issued under its USD6 billion Euro Medium Term Note Program (“EMTN”) which,
together with certain previous repurchases, including the Tender Offer announced on the JSE
Limited News Service on 14 July 2016 via (“Impact of Tender Offer in respect of notes issued
under African Bank’s US$6 billion Euro Medium Term Note Program”) and 5 September 2016
(“Impact of repurchase of notes issued under African Bank’s USD6 billion EMTN Program”),
results in the following aggregate principal amount of its EMTN Notes remaining outstanding
after the 14 September 2016 settlement date:
- USD 274 million in respect of USD denominated Notes; and
- CHF 157 million in respect of CHF denominated Notes.
The total nominal amount of Notes acquired by the Bank in terms of this announcement (excluding
any payment made in respect of interest accrued thereon and as further set out in the table below)
was USD 72 million.
Further details of the aggregate principal amount of Notes repurchased in each of the USD
denominated series and the Notes remaining outstanding in respect of all outstanding Series after
the settlement date for these USD Note repurchases are contained in the table below. All amounts in
USD and CHF of each series of bonds in the table below, as applicable, are expressed in millions and
percentages refer to the original nominal amounts of each series of bonds.
Repurchased as per Repurchases as per Remaining Principal (1)
previous announcement this announcement Amount Outstanding
Series ISIN Principal Percent Principal Percent Principal Percent
Amount (m) Amount (m) Amount (m)
USD 280m XS1390060546 108.5 38.7% 46.0 16.4% 125.5 44.8%
8.125% Notes
due Oct 2020
USD 280m 6% XS1390059969 131.7 47.0% 25.9 9.3% 122.4 43.7%
Notes due Feb
2020
USD 25.6m XS1390059969 0 0.0% 0.0 0.0% 25.6 100.0%
2.4% Notes
due Nov 2018
CHF 140m 5% CH0310140600 105.3 75.2% 0.0 0.0% 34.7 24.8%
Notes due Apr
2022
CHF 84m 5.5% CH0310140584 49.6 59.1% 0.0 0.0% 34.4 40.9%
Notes due Jun
2021
CHF100m 4% CH0310140568 54.3 54.3% 0.0 0.0% 45.7 45.7%
Notes due Jul
2020
CHF 120m CH0310140543 78.2 65.1% 0.0 0.0% 41.8 34.9%
4.75% Notes
due March
2022
(1) Excluding any Notes beneficially held by, or behalf of, the Bank or any of its subsidiaries.
A separate announcement has been released on the news service operated by the London Stock
Exchange (“LSE”) in respect of the USD bonds repurchased, as listed on that exchange.
Midrand
14 September 2016
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/09/2016 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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