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Redemption & cancellation of Notes issued under the African Bank DMTN Programme & Deregistration of the Programme
AFRICAN BANK LIMITED (under Curatorship)
(Incorporated in the Republic of South Africa)
(Registration No. 1975/002526/06)
Company code: BIABL
(“African Bank”)
REDEMPTION AND CONSEQUENTIAL CANCELLATION OF ALL OF THE NOTES ISSUED UNDER THE AFRICAN
BANK ZAR25 000 000 000.00 DOMESTIC MEDIUM TERM NOTE PROGRAMME AND DEREGISTRATION OF THE
PROGRAMME MEMORANDUM
Pursuant to and as a consequence of the implementation of the Series Exchange Offers approved by Extraordinary
Resolution at the meetings of the senior and subordinated noteholders held on 29 February 2016 and 1 March 2016,
respectively as set out in the Senior Consent and Exchange Offer Document and the Subordinated Consent and
Exchange Offer Document each dated 4 February 2016 (the “Exchange Offer Documents”) and the Notices of Meeting
dated 4 February 2016, investors are herewith advised of the redemption and consequential cancellation of the notes
listed in the first column in the table below on the Transaction Effective Date of 4 April 2016.
Capitalised terms used but not defined in this announcement have the meanings ascribed to them in the relevant
Exchange Offer Document.
Consideration for exchanged (redeemed) Senior Notes
Stock code of ISIN of exchanged Aggregate nominal Good Bank Notes Cash Payment Senior Stub
exchanged (redeemed) amount outstanding (aggregate nominal (aggregate Instrument
(redeemed) Existing Senior of exchanged amount of 80% of amount per ZAU000014557
Existing Notes (redeemed) Existing the nominal amount Series of (aggregate
Senior Notes Senior Notes of the exchanged exchanged amount per
(redeemed) Existing (redeemed) Series of
Senior Notes Existing exchanged
Senior Notes) (redeemed)
Existing Senior
Notes)
ZAR ZAR ZAR
ABL10A ZAG000065053 450 000 000 ABK1 45 000 000 47 081 250
ZAG000134420
ABL10B ZAG000065061 500 000 000 ABK3 50 000 000 50 662 000
ZAG000134446
ABL11A ZAG000080946 525 000 000 ABK2 52 500 000 54 315 975
ZAG000134438
ABL11B ZAG000080938 380 000 000 ABK4 38 000 000 38 355 300
ZAG000134453
ABL12B ZAG000084500 1 000 000 000 ABK5 100 000 000 101 393 000
ZAG000134461
ABL13 ZAG000089863 278 000 000 ABK6 27 800 000 27 990 430
ZAG000134479
ABL14 ZAG000100371 709 000 000 ABK7 70 900 000 71 386 374
ZAG000134487
ABL15 ZAG000100389 191 000 000 ABK8 19 100 000 19 241 722
ZAG000134495
ABL16 ZAG000104183 800 000 000 ABK9 80 000 000 80 786 400
ZAG000134503
ABL17 ZAG000106600 1 000 000 000 ABK10 100 000 000 101 125 000
ZAG000134511
ABL18 ZAG000109307 510 000 000 ABK11 51 000 000 51 556 410
ZAG000134529
ABL19 ZAG000109323 490 000 000 ABK12 49 000 000 49 605 640
ZAG000134537
ABLI03 ZAG000076068 750 000 000 ABKI01 101 870 250 97 172 250
ZAG000134545
ABLI04 ZAG000080953 652 000 000 ABKI02 82 233 500 77 880 748
ZAG000134552
ABLI05 ZAG000102872 2 000 000 000 ABKI03 234 554 000 222 592 000
ZAG000134560
ABLI06 ZAG000107228 600 000 000 ABKI04 68 268 600 64 030 800
ZAG000134578
Stock code of ISIN of exchanged Aggregate amount Consideration for exchanged(redeemed) Subordinated Notes
exchanged (redeemed) outstanding of
(redeemed) Existing exchanged Aggregate Nominal Cash Payment Subordinated
Existing Subordinated (redeemed) Existing Amount of Good (aggregate amount Stub Instrument
Subordinated Notes Subordinated Notes Bank Tier 2 Notes per Series of ZAU000014532
Notes (ABKS1)(ZAG exchanged (redeemed) (aggregate amount
ZAG000134412) per Existing Subordinated per Series of
Series of exchanged Notes) after deduction exchanged(redeemed)
(redeemed) Existing of Participation Existing
Subordinated Notes) Percentage Subordinated Notes)
(Subordinated Advisory
Fees)
ZAR ZAR ZAR ZAR
ABLS2A ZAG000069493 520 000 000 185 999 840 13 762 840 456 448 200
ABLS2B ZAG000069501 480 000 000 164 676 480 11 939 520 401 690 880
ABLS3 ZAG000085119 515 000 000 171 315 780 12 199 835 415 616 845
ABLS4 ZAG000094244 300 000 000 100 578 900 7 191 600 244 300 500
ABLS5 ZAG000096744 1 367 000 000 461 819 078 33 149 750 1 123 023 308
ABLSI1 ZAG000096819 133 000 000 48 723 220 3 430 868 117 201 595
Investors are further advised that the deregistration of the ZAR25,000,000,000 Domestic Medium Term Note Programme
Memorandum will be effective immediately upon the redemption and cancellation of all of the notes listed above on the
Transaction Effective Date.
Investors are also referred to the African Bank notice relating to the listing of the new financial instruments (Good Bank
Notes and Good Bank Tier 2 Notes) effective 4 April 2016.
On behalf of the Curator of African Bank Limited
Midrand
31 March 2016
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Mr T Winterboer was appointed as Curator of African Bank Limited on 10 August 2014 by the Minister of Finance of the
Republic of South Africa and pursuant to the Banks Act No. 94 of 1990 (as amended) to manage the affairs of African
Bank Limited subject to the supervision of the Registrar of Banks. Please note that Mr T Winterboer acts in the aforesaid
capacity.
Date: 31/03/2016 12:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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