GRINDROD BANK LIMITED - GBL03 and GBL04 Tap Issuance

GBL03 and GBL04 Tap Issuance

Grindrod Bank Limited
(Incorporated in the Republic of South Africa with limited liability
under registration number 1994/007994/06)


JSE Code:       GBL03
ISIN No:        ZAG000148263


JSE Code:       GBL04
ISIN No:        ZAG000151705



GBL03 and GBL04 Tap Issuance

The JSE has granted a listing to Grindrod Bank Limited, with effect from
21 February 2019.

Authorised Programme size       R 1,000,000,000.00
Total Notes Outstanding          R   503,000,000.00
after this issuance



Bond Code                        GBL03
Tap Amount                       R 15,000,000.00
Total Amount Following Tap Issue R 240,000,000.00

Issue Price                     101,826344%
Coupon                          10.15% (3 Month JIBAR as at 18 February
                                2019 of 7.150% plus 300 bps)
Coupon Rate Indicator           Floating
Trade Type                      Price
Final Maturity Date             16 November 2020
Books Close Date(s)             6 February, 6 May, 6 August, 6 November
Interest Payment Date(s)        16 February, 16 May, 16 August, 16
                                November
Last Day to Register            By 17:00 on 5 February, 5 May, 5 August,
                                5 November
Issue Date                      21 February 2019
Date Convention                 Modified Following
Interest Commencement Date      18 February 2019
First Interest Date             16 May 2019
ISIN No.                        ZAG000148263
Additional Information          Senior Unsecured Floating Rate Notes
Additional Terms and            N/A
Conditions


INSTRUMENT TYPE:        FLOATING RATE NOTE


Bond Code                        GBL04
Tap Amount                       R 27,000,000.00
Total Amount Following Tap Issue R 263,000,000.00

Issue Price                       103.560746%
Coupon                            10.15% (3 Month JIBAR as at 5 December
                                  2019 of 7.150% plus 300 bps)
Coupon Rate Indicator             Floating
Trade Type                        Price
Final Maturity Date               5 June 2021
Books Close Date(s)               23 February, 26 May, 26 August, 25
                                  November
Interest Payment Date(s)          5 March, 5 June, 5 September, 5 December
Last Day to Register              By 17:00 on 22 February, 25 May, 25
                                  August, 24 November
Issue Date                        21 February 2019
Date Convention                   Modified Following
Interest Commencement Date        5 December 2018
First Interest Date               5 March 2019
ISIN No.                          ZAG000151705
Additional Information            Senior Unsecured Floating Rate Notes
Additional Terms and              N/A
Conditions



The note will be dematerialised in the Central Securities
Depository (“CSD”) and settlement will take place electronically
in terms of JSE Rules. Further information on the Note issue
please contact:


Allister Lamont-           Nedbank CIB              +27 11 294 4833
Smith


Date 20 February 2019

Sponsor: Nedbank Corporate and Investment Bank, a division of
Nedbank Limited





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