ACCELERATE PROPERTY FUND LIMITED - APFE - Financial Covenants Notification

APFE - Financial Covenants Notification

Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
(Approved as a REIT by the JSE)
(“Accelerate” or “the Issuer”)

FINANCIAL COVENANTS NOTIFICATION

Noteholders are advised of the following financial covenant information applicable to the notes
listed by the Issuer:

    •   the Loan to Value Ratio does not exceed 50%;
    •   the Secured Properties Loan to Value Ratio does not exceed 45%;
    •   the Interest Cover Ratio shall be greater than 2.0 times; and
    •   the Secured Properties Interest Cover Ratio shall be greater than 2.0 times.

Accelerate wishes to further advise noteholders that testing of the financial covenants, for the
interim period ended 30 September 2019, has been completed and has been successfully passed.
The compliance certificate in respect of compliance with same is available for inspection at the
registered office of the Issuer, during normal working hours.

6 December 2019

Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa

Date: 06-12-2019 09:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.