THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - Recommencement Of Interest Payments - BILB

Recommencement Of Interest Payments - BILB

The Land and Agricultural Development Bank of South Africa


(JSE Code: BILB)

(“Land Bank” or “the Issuer”)


RECOMMENCEMENT OF INTEREST PAYMENTS


In the SENS announcement dated 07 August 2020, Land Bank indicated that as from 11 August 2020,
interest payments would be made as and when they become due and payable in accordance with the
terms of each relevant underlying agreement. Interest payments that had already contractually fallen
due, will be paid together with any accrued interest due in respect of such unpaid interest in accordance
with the terms of each relevant underlying agreement; and in addition, unpaid interest that has accrued
on unpaid capital will be paid (each payment being a “Catch-up Interest Payment”).


Accordingly, as regards listed notes currently in issuance under the terms of the Land Bank’s JSE-listed
ZAR30 billion DMTN Programme dated 13 March 2017 (the “2017 Programme”) and under the terms
of the Land Bank’s JSE-listed ZAR20 billion DMTN Programme dated 18 October 2010 (the “2010
Programme”) the following interest payments will be made:


 Books Closed Period:                                The day following the Designated Last Day to
                                                     Register until the Designated Interest Payment
                                                     Date, both days included.


 Day count convention:                               Per terms of the relevant Note.

 Interest Period:                                    All accrued but unpaid interest due from the last
                                                     scheduled Interest Payment Date (the Coupon
                                                     Default Date) up until the Designated Interest
                                                     Payment Date.

 Interest Payment Rate:                              Statutory mora interest = Repo rate (from time to
                                                     time) plus 3,5%*

 Designated Last Day to Register:                    04 September 2020


 Designated Interest Payment Date:                   15 September 2020




 Bond         ISIN No             Coupon             Coupon              Mora            Total Interest
 Code                           Default Date          Default           Interest         Amount Due
                                                     Amount
                                                              (R)             (R)                   (R)

 LBK15      ZAG000139890              13-July-2020        29 157 534.23    367 864.23             29 525 398.47
 LBK20      ZAG000144627              08-June-2020        40 433 917.81    803 970.30             41 237 888.11
 LBK28      ZAG000151275              15-May-2020         48 729 253.42   1 239 925.87            49 969 179.29
 LBK29      ZAG000151853              08-June-2020        37 700 055.62    749 611.38             38 449 667.00
 LBK32      ZAG000155243              08-May-2020         10 244 164.38    277 855.42             10 522 019.80
 LBK35      ZAG000158064              26-June-2020        18 924 273.97    303 954.95             19 228 228.92
 LBK36      ZAG000160532          25-June- 2020            3 427 945.21     55 786.29              3 483 731.50
 LBK38      ZAG000166240              18-May- 2020        10 183 165.08    251 789.22             10 434 954.30




THE TOTAL INTEREST AMOUNT DUE SHALL BE PAID TO THE CSD OR THE PARTICIPANTS,
AS SHOWN IN THE REGISTER ON THE DESIGNATED LAST DAY TO REGISTER. EACH OF THE
PERSONS SHOWN IN THE RECORDS OF THE CSD AND THE PARTICIPANTS, SHALL LOOK
SOLELY TO THE CSD OR THE PARTICIPANT, AS THE CASE MAY BE, FOR ITS SHARE OF THE
TOTAL INTEREST AMOUNT DUE TO BE MADE BY THE ISSUER TO THE REGISTERED HOLDER
OF SUCH UNCERTIFICATED NOTES.


THE RELEVANT BOOKS CLOSED PERIOD FOR THE CATCH-UP INTEREST PAYMENT IN
RESPECT OF EACH NOTE IS SET OUT ABOVE. DURING THE BOOKS CLOSED PERIOD,
TRANSFERS OF THE NOTES WILL NOT BE REGISTERED AND THE REGISTER AND THE
RECORDS OF THE CSD AND THE PARTICIPANT, AS AT THE END OF THE DESIGNATED LAST
DAY TO REGISTER, WILL BE USED BY THE CSD TO DETERMINE THOSE NOTEHOLDERS
ENTITLED TO RECEIVE ITS SHARE OF THE TOTAL INTEREST AMOUNT DUE.


* Mora interest has been calculated and applied in accordance with the Prescribed Rate of Interest Act No.55 of
1975

 Repo Reset Date     Mora Interest      Effective Date
                       Rate %
        17-Jan-20              9.75         01-Mar-20
       20-Mar-20               8.75         01-May-20
        15-Apr-20              7.75          01-Jun-20
       22-May-20               7.25           01-Jul-20
        24-Jul- 20             7.00          01-Sep-20




Noteholders and potential investors are advised to continue to exercise caution when dealing in the
Land Bank’s notes and securities.

3 September 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, 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

Date: 03-09-2020 05:15:00
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