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FIFG03 FIFG04 FIFG05 - Notice to the FIFG03, FIFG04 and FIFG05 Noteholders in respect of a Margin Adjustment Event
Fortress Real Estate Investments Limited
(Formerly Fortress REIT Limited)
(Incorporated in the Republic of South Africa)
(Registration no. 2009/016487/06)
(“Fortress”)
Company code: FORI
LEI: 378900FE98E30F24D975
Bond code: FIFG03 ISIN: ZAG000183815
Bond code: FIFG04 ISIN: ZAG000183807
Bond code: FIFG05 ISIN: ZAG000183799
NOTICE TO THE FIFG03, FIFG04 AND FIFG05 NOTEHOLDERS IN RESPECT OF A MARGIN ADJUSTMENT
EVENT
This notice is delivered by the Issuer to each holder (collectively, the “Noteholders”) of the FIFG03,
FIFG04 and FIFG05 notes (collectively, the “Notes”) issued under the Fortress ZAR20 000 000 000
Domestic Medium Term Note Programme (the “Programme”), in accordance with condition 19 of the
Programme, in respect of a Margin Adjustment Event, pursuant to paragraph 2.2 of the FIFG03
applicable pricing supplement, paragraph 2.3 of the FIFG04 and FIFG05 applicable pricing supplements
each dated 18 February 2022 (collectively, the “pricing supplements”).
Unless otherwise defined, words and expressions used in this notice will bear the same meanings as
in the Programme, read with the pricing supplements for the Notes.
Noteholders are advised that a Margin Adjustment Event has occurred and, as a result of the SPT1 KPI
condition being achieved as at 30 June 2023 by the Issuer as referenced in the pricing supplements
and confirmed by way of a Sustainability Certificate dated 8 August 2023 issued by the KPI Auditor
(ERM South Africa). The Sustainability Certificate has been included as an annexure to the notice that
will be disseminated by the CSD.
The new margin that will be applicable to the Notes is detailed below:
Notes Margin Margin Adjustment Date
FIFG03 170 basis points 22 August 2023
FIFG04 210 basis points 22 August 2023
FIFG05 220 basis points 22 August 2023
In respect of each Note, the margin stated above will be applicable for the interest period commencing
on the Margin Adjustment Date.
This notice is also being delivered to the CSD, for dissemination by them to the Participants and
Noteholders, in accordance with condition 19 of the Programme.
17 August 2023
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17-08-2023 12:04:00
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