Wrap Text
Redemption and New Issue of Notes
AFRISTRAT INVESTMENT HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ATI - ISIN: ZAE000287587
Debt Issuer Code: ATID
Hybrid Issuer Code: ATIG
(“Afristrat” or “the Issuer”)
Notes Series number JSE Code ISIN
Floating Rate Notes 1 ATIFL1 ZAE000288965
Zero Coupon Notes 1 ATIZR1 ZAE000288981
Fixed Rate Notes 1 ATIFX1 ZAE000288908
REDEMPTION AND INTEREST PAYABLE BY THE ISSUER:
• ON 13 DECEMBER 2021 OF EACH OF:
o SERIES 1 FLOATING RATE NOTES ISSUED BY THE ISSUER UNDER JSE CODE ATIFL1;
o SERIES 1 ZERO-COUPON NOTES ISSUED BY THE ISSUER UNDER JSE CODE ATIZR1; AND
• ON 14 DECEMBER SERIES 1 FIXED RATE NOTES ISSUED BY THE ISSUER UNDER JSE CODE ATIFX1,
UNDER THE ZAR10 000 000 000 DOMESTIC MEDIUM TERM NOTE PROGRAMME; AND
NEW ISSUE
Notice is hereby given that the Issuer shall:
• on 13 December 2021, being the relevant Redemption Date, redeem each of:
o the Series 1 Floating Rate Notes issued by the Issuer on the Initial Issue Date, being 10 December 2018, in
an amount of ZAR15 667 000 under JSE Code ATIFL1 (ISIN ZAE000288965) (“Floating Rate Notes”);
o the Series 1 Zero-Coupon Notes issued by the Issuer on the Initial Issue Date, being 10 December 2018, in
an amount of ZAR10 148 000 under JSE Code ATIZR1 (ISIN ZAE000288981) (“Zero-Coupon Notes”); and
• on 14 December 2021, being the relevant Redemption Date, the Series 1 Fixed Rate Notes issued by the Issuer
on the Initial Issue Date, being 10 December 2018, in an amount of ZAR1 250 000 under JSE Code ATIFX1 (ISIN
ZAE000288908) (“Fixed Rate Notes”),
which Floating Rate Notes, Zero-Coupon Notes and Fixed Rate Notes (collectively referred to hereinafter as "Notes")
were issued under the Issuer's ZAR10 000 000 000 Domestic Medium Term Note Programme established in terms of
a programme memorandum dated 21 August 2018 ("Programme Memorandum).
Redemption Price per Note:
Floating Rate Notes (ISIN ZAE000288965): 100% of initial Issue Price, being R100.00 per Note
Zero-Coupon Notes (ISIN ZAE000288981): 137.49% of initial Issue Price, being R137.49 per Note
Fixed Rate Notes (ISIN ZAE000288908): 100% of initial Issue Price, being R100.00 per Note
Redemption timetable
Last day to trade: 7 December 2021
Suspension of listing of the Notes to be redeemed: 8 December 2021.
The Redemption Record Date applicable to the redemption of the Notes: 10 December 2021 at 13:30.
Redemption Payment Date in respect in respect of the Floating Rate Notes and the Zero-Coupon Rate Notes:
13 December 2021, and Redemption Payment Date in respect of the Fixed Rate Notes: 14 December 2021.
Date that redeemed Notes will be removed from the JSE list: Floating Rate Notes and the Zero-Coupon Notes:
14 December 2021, and Fixed Rate Notes: 15 December 2021
Notice is further given that Issuer intends to issue:
• on 13 December 2021:
o Series 7, Tranche 1, Fixed Rate Notes (“New Fixed Rate Notes 1”);
o Series 3 Zero-Coupon Notes (“New Zero-Coupon Notes”); and
• on 14 December 2021, Series 7, Tranche 2, Fixed Rate Notes (“New Fixed Rate Notes 2”),
which New Fixed Rate Notes 1, New Zero-Coupon Notes and New Fixed Rate Notes 2 (collectively referred to
hereinafter as "New Notes") will, in addition to new investors, be issued to those Holders of the Notes who wish to
invest in the New Notes in lieu of receipt of the Redemption Amount.
Payment of accrued Interest:
Accrued interest for the period 9 November 2021 to the close of business on 13 December 2021 and 14 December
2021, respectively (Day Count Fraction) will be paid on the Floating Rate Notes and the Fixed Rate Notes as follows:
• Interest at a rate of 8.50% per annum (being the prime rate plus 1.5%) is payable in respect of the Floating
Rate Notes.
• Interest at a rate of 9.00% per annum is payable in respect of the Fixed Rate Notes.
The gross accrued interest amount and the net accrued interest amount payable to Noteholders of the Floating Rate
Notes and the Fixed Rate Notes are set out below:
Floating Rate Notes Fixed Rate Notes
Interest per Note (cents per Note)
Gross distributable amount to Noteholders 79.17808 86.30137
Less: Administration fee of 0.25% of the initial Issue Price (as
set out in the relevant Applicable Pricing Supplements) per (2.32877) (2.39726)
annum inclusive of VAT to be withheld by the Company
Net distribution amount to Noteholders 76.84931 83.90411
In terms of the Debt Listings Requirements of the JSE, the following additional information is provided:
1. The interest is paid from income reserves.
2. The Company shall be entitled to an administration fee of 0.25% per annum on the initial Issue Price, inclusive
of VAT, payable monthly in arrears on the Monthly Interest Payment Dates.
3. The administration fee is subject to the Value-Added Tax Act of 1991. The Company has the right to recover the
monthly administration fee, from the monthly Note interest (plus the applicable VAT thereon).
4. The Company’s income tax number is 9235/264/84/4.
Capitalised terms and expressions used in this notice, and not otherwise defined herein, shall have the meanings
assigned to such terms and expressions in the Programme Memorandum.
For more information about this announcement or the Afristrat group, email
investor.relations@afristrat.ltd or visit https://afristrat.ltd/investor-relations/.
22 November 2021
Pretoria
Debt Sponsor
Merchantec Capital
Date: 22-11-2021 08:30:00
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