AFRICAN BANK LIMITED - Buy Back of ABK11 Notes Issued in terms of the DMTN Programme Listed on the JSE

Buy Back of ABK11 Notes Issued in terms of the DMTN Programme Listed on the JSE

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
Company code: ABKI
Bond code: ABK11
ISIN: ZAG000134529
(“the Bank” or “African Bank”)

Buy back of ABK11 notes issued in terms of the DMTN programme listed on the JSE

Noteholders are referred to the Stock Exchange News Service (SENS) announcement released by
African Bank on 15 September 2017 (the Prior Notice), wherein the Bank disclosed the results of an
invitation to noteholders to offer to sell any or all of their holdings in certain senior unsecured notes
(including the ABK11 notes) issued under the Bank’s Domestic Medium Term Note (DMTN)
programme listed on the Interest Rate Market of the JSE Limited. The results of the process were
reported in the Prior Notice, including a remaining outstanding nominal amount of ABK11 notes
amounting to approximately R24.8 million.

The Bank today notifies noteholders that it has bought back additional ABK11 notes, amounting to
more than 10% of the remaining outstanding nominal notes of the ABK11 notes as referred to the
Prior Notice. The details of the buyback transaction are detailed below:


Stock           ISIN          Contractual      Outstanding         Nominal Amount            Remaining
Code                           Maturity         Nominal            bought back (ZAR)        Outstanding
                                 Date         Amount (ZAR)           (ZAR)         %          Nominal
                                                                                              Amount
                                                                                               (ZAR)
ABK11       ZAG000134529      20 May 2019     R24.8 million        R4.0million    16%      R20.8 million


Settlement of the notes bought back, as set out above, is scheduled for Friday, 15 December 2017.

As stated in the Prior Notice, the Bank does not currently intend to cancel any portion of the bought
back notes and, as a consequence, there will be no corresponding reduction in the outstanding
nominal amount issued of the affected notes. The Bank however retains the right to cancel any such
notes held by it and accordingly undertakes to inform the market by way of a SENS notice as and
when it elects to do so.

15 December 2017

Debt Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 15/12/2017 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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