THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - Update on interest payments

Update on interest payments

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


Interest Payments

In the SENS announcement dated 18 June 2020, the Land Bank indicated that it is experiencing liquidity
challenges. The Land Bank continues to work towards putting in place a solution to its liquidity requirements.
The Land Bank confirms that it will not be in a position to proceed with the interest payments due between the
date of this announcement and 31 July 2020 in respect of listed notes issued in accordance with the Terms
and Conditions of the Land Bank’s JSE - listed ZAR20 billion DMTN Programme dated 18 October 2010 (the
“2010 Programme”). Such failure to pay will, subject to the terms of the 2010 Programme, constitute an event
of default under Condition 12 (Events of Default) of the terms and conditions of the listed notes.


The following notes are affected:


 Bond         ISIN No           Scheduled Interest        Interest           Payment        Payment
 Code                           Payment Date              Payment Rate       Type           Amount (R)
 LBK15        ZAG000139890      13-July 2020              8.600%             Interest       29 157 534.24


The Land Bank will make further announcements in respect of interest and principal payments falling due after
31 July 2020 in due course.


9 July 2020

Enquiries

Land and Agricultural Development Bank of South Africa

Ayanda Kanana, Chief Executive Officer
Khensani Mukhari, Chief Financial Officer
Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 074 159 6833


Debt Sponsor:
The Standard Bank of South Africa Limited

Date: 09-07-2020 04:34:00
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