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BILB-Results of offer to Buy-Back 12% of nominal amount outstanding
The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“Land Bank” or the “Issuer”)
For release: 19 February 2021
Results of offer to Buy-Back 12% of nominal amount outstanding on notes with bond codes: LBK20, LBK35, LBK24 and LBK37, issued in terms of Domestic
Medium Term Note (“DMTN”) programmes listed on the JSE and interest payment calculation for LBK38
Results of offer to Buy-Back 12% of nominal amount outstanding on notes issued in terms of DMTN programmes listed on the JSE
In the SENS announcements dated 11 January 2021 and 15 January 2021 (together the “Buy-Back SENS announcements”), Land Bank extended an invitation to
noteholders to offer to sell 12% of the aggregate Nominal Amount of the Buy-Back Offer Notes, held by each Noteholder, to Land Bank. Defined terms used in this
SENS announcement shall bear the meaning as defined in the Buy-Back SENS announcements.
In relation to the Buy-Back Offer Notes with bond codes:
1. LBK20, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 17 February 2021;
2. LBK35 and LBK24, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 18 February 2021 and
3. LBK37, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 19 February 2021.
The Buy-Back SENS announcements stipulated that the results of the Buy-Back Offer Invitation would be disclosed to the market by way of a new SENS announcement
within 2 Business Days of the Closing Date.
Accordingly, Land Bank hereby announces the results of the Buy-Back Offer Invitation.
2
The following nominal amounts were offered per series and Land Bank hereby announces that these offers have been accepted by Land Bank.
2017 DMTN Programme
Bond ISIN Contractual Outstanding 12% of the aggregate Remaining Settlement Settlement Date
Code Maturity Date Nominal Nominal Amount (ZAR) of Outstanding Amount
Amount offered the relevant Notes held by Nominal
(ZAR) before each Noteholder, Tendered Amount (ZAR)
the Buy-Back and accepted after the Buy-
Offer Back Offer
(ZAR)
LBK20 ZAG000144627 08 June 2022 795 000 000 93 720 000 701 280 000 95 736 649 23 February 2021
LBK35 ZAG000158064 26 March 2024 1 000 000 000 120 000 000 880 000 000 121 045 525 24 February 2021
LBK24 ZAG000147364 10 October 2024 805 000 000 96 130 920 708 869 080 99 789 557 24 February 2021
LBK37 ZAG000160540 25 June 2024 800 000 000 96 000 000 704 000 000 97 450 841 25 February 2021
Settlement of the accepted offers, are scheduled as set out above.
Interest payment calculation for LBK38
In the SENS announcements dated 11 January 2021 and 14 January 2021, Land Bank provided details on the offer to buy back 12% of nominal amount outstanding
on notes issued in terms of the DMTN. The SENS announcement indicated that the Purchase Price would be comprised of the 12% of the aggregate Nominal Amount
plus accrued but unpaid interest in respect of each relevant Buy-Back Offer Note. The 12% of the aggregate Nominal Amount for each note was set out in above
mentioned SENS announcements. This SENS provides details on the accrued, but unpaid interest (calculated in accordance with the Terms and Conditions) from the
last Interest Payment Date to the relevant Settlement Date that will be paid out in addition to the 12% of aggregate Nominal Amount.
The interest that the noteholders of LBK38 will receive on the relevant settlement date is set out in the table below.
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Bond Nominal on Coupo Nature Last Reset Settlement No. of Percenta 12% of Accrued Purchase Trade Date
Code offer n Rate of Date Date Days ge of Nominal interest Price
(%) interest Since Nominal
Last being
Reset tendered
Date
16 23
26 February
LBK38 513 251 611 5.042 Floating February 10 12% 61 590 193 85 079 61 675 272 February
2021
2021 2021
Noteholders and potential investors are advised to continue to exercise caution when dealing in Land Bank’s notes and securities.
Enquiries
Land and Agricultural Development Bank of South Africa
Attention: GM: Treasury
Re: Land Bank Buy-Back Offer
E-mail address: TenderOffer@landbank.co.za
Debt Sponsor
The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division (registration number: 1962/000738/06)
Contacts: Ms Natalie Di-Sante
Email: Natalie.di-sante@standardbank.co.za
Tel: +27 (0) 11 721 6125
End
Date: 19-02-2021 12:16:00
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