LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - Land Bank Bond Auction Results-BILB

Land Bank Bond Auction Results-BILB

The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“the Land Bank”)


New Financial Instruments: Auction Results


The Land Bank is pleased to announce that a successful bond auction was concluded on 17 September
2018. During the auction, the Bank raised R1.5bn. The salient features of the auction are the following:

    -       eighteen investors participated;
    -       total bids received amounted to R2.153bn (bid distribution skewed towards the longer end);
            and
    -       all bids were within pricing guidance

A total of R1.5bn was raised at the following clearing levels:

        -    3   year        R0.306bn @ 3 m JIBAR + 135bps       (Yield compression – 14bps from previous
             FRN                                                 auction)
        -    5   year        R0.920bn @ 3m JIBAR + 195bps        (Yield compression – 20bps from previous
             FRN                                                 auction)
        -    5    year       R0.274bn @ R2023 + 170bps
             FIXED

All notes are expected to list on the JSE on or about [20] September 2018.

The continued broad-based investor support that the Bank enjoys as a State-owned Entity is pleasing
to note.

Non-Executive Directors (NEDS) of the Land Bank Board

Further to the SENS Announcement dated 22 August 2018, the Land Bank is pleased to announce that
the following Board members have been reappointed by the Minister of Finance for a three-year period,
from 01 October 2018 – 30 September 2021:

    -       Adv. S Coetzee; and
    -       Ms M Makgatho

The reappointments will ensure that the Board continues business without compromising the Board
quorum and its decision-making capacity.

18 September 2018

Enquiries
Land and Agricultural Development Bank of South Africa
Bennie van Rooy, Chief Financial Officer
Rebecca Phalatse – Tel: 012 686 0921

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 19/09/2018 07:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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