ACCELERATE PROPERTY FUND LIMITED - APF02 APF11 - Notification of Partial Capital Reduction and Accrued Interest Payment and Listing of New Instrument

APF02 APF11 - Notification of Partial Capital Reduction and Accrued Interest Payment and Listing of New Instrument

Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
(Approved as a REIT by the JSE)
Bond code: APF02 ISIN: ZAG000120973
Bond code: APF11 ISIN: ZAG000162264
(“Accelerate” or “the Issuer”)


NOTIFICATION OF A PARTIAL CAPITAL REDUCTION AND ACCRUED INTEREST PAYMENT OF LISTED
DEBT SECURITIES AND LISTING OF NEW FINANCIAL INSTRUMENT

PARTIAL CAPITAL REDUCTION AND ACCRUED INTEREST PAYMENT OF LISTED DEBT SECURITIES

In accordance with the Terms and Conditions of Accelerate’s ZAR 5,000,000,000.00 Domestic
Medium Term Note Programme dated 9 September 2014 (“the Accelerate DMTN Programme”),
noteholders are herewith advised of the partial capital reduction of the APF02 notes and the
accrued interest paid thereon.

Bond code:                                                        APF02
ISIN:                                                             ZAG000120973
Nominal amount before reduction:                                  ZAR 285 000 000.00
Reduction of nominal amount:                                      ZAR 118 800 000.00
Nominal amount after reduction:                                   ZAR 166 200 000.00
Settlement amount:                                                ZAR 121 323 517.52
Pay date of the repurchase:                                       16 September 2019
Effective date of the reduction in nominal amount:                16 September 2019
Accrued interest amount:                                          ZAR 2 490 913.78, included in the
                                                                  settlement amount
Annualised interest rate:                                         9.333%
Interest period:                                                  26 June 2019 to 15 September
                                                                  2019

The partial capital reduction is due to the repurchase of the listed debt securities by the Issuer.


LISTING OF NEW FINANCIAL INSTRUMENT

The JSE Limited has granted Accelerate the listing of its Senior Secured Floating Rate Notes, in terms
of the Accelerate DMTN Programme, effective 16 September 2019.

Debt Security Code:                         APF11
ISIN:                                       ZAG000162264
Type of Debt Security:                      Floating Rate Notes
Nominal Issued:                             ZAR 129 000 000.00
Issue Date:                                 16 September 2019
Issue Price:                                100%
Coupon Rate:                                3 Month JIBAR plus 130 basis points
Interest Commencement Date:                 16 September 2019
Interest Determination Date(s):             16 December 2019, 16 March 2020 and 16 June 2020,
                                            with the first interest determination date being 11
                                            September 2019
First Interest Payment Date:                16 December 2019
Interest Payment Date(s):                   16 December 2019, 16 March 2020, 16 June 2020 and
                                            16 September 2020
Last Day to Register:                       By 17h00 on 5 December 2019, 5 March 2020, 5 June
                                            2020 and 5 September 2020
Books Close:                                6 December 2019, 6 March 2020, 6 June 2020 and 6
                                            September 2020
Business Day Convention:                    Following Business Day
Maturity Date:                              16 September 2020
Final Maturity Amount:                      100% of Nominal Amount
Other:                                      The pricing supplement contains additional terms and
                                            conditions to the terms and conditions as contained in
                                            the Accelerate DMTN Programme
Summary of Additional Terms:                Please refer to the description of the security
                                            arrangements under Appendix A, the additional terms
                                            and conditions under Appendix B, which includes the
                                            Guarantee, Financial Covenants and the Negative
                                            Undertakings, the debt Guarantee under Appendix C
                                            and the Additional Documents Incorporated by
                                            Reference under Appendix D of the pricing supplement

Programme Amount:                           ZAR 5 000 000 000.00
Total Notes in Issue under the Accelerate   ZAR 2 186 000 000.00, exclusive of this issuance
DMTN Programme:                             of notes
Dealer:                                     Rand Merchant Bank, a division of FirstRand Bank
                                            Limited



12 September 2019

Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa

Date: 12/09/2019 01:23:00
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