Sharenet Sites 
Sharenet Sites
New Financial Instruments: Auction Results
The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“the Land Bank”)
New Financial Instruments: Auction Results
On 19 March 2018, the Land Bank approached the market to raise R1.5bn across three floating rate
notes, with an option to increase the placing to R2.0bn in the event of an oversubscription.
The Land Bank is pleased to announce a successful auction, where seventeen investors participated,
with total bids received amounting to R3.252bn (bid distribution skewed towards the longer end); and
total bids within pricing guidance being 83.7%.
A total of R2.015bn was raised at the following clearing levels:
- 1 year: R0.500bn @ 110bps above 3m JIBAR (Yield compression – 5 basis points)
- 3 year: R0.245bn @ 149bps above 3m JIBAR (Yield compression – 6 basis points )
- 5 year: R1.270bn @ 215bps above 3m JIBAR (Yield compression – 10 basis points )
The floating rate notes are expected to list on the JSE on or about 23 March 2018.
The continued broad-based investor support that the Land Bank enjoys as a State-owned Entity is
pleasing to note.
22 March 2018
Enquiries
Land and Agricultural Development Bank of South Africa
Bennie van Rooy, Chief Financial Officer
Alleyne Smith – Tel: 012 686 0921
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 22/03/2018 10:05:00 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.
