HOSPITALITY PROPERTY FUND LIMITED - HPAI - Notification of the waiver of financial covenant testing by noteholders

HPAI - Notification of the waiver of financial covenant testing by noteholders

Hospitality Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/014211/06)
Company code: HPAI
(“Hospitality” or the “Issuer”)


NOTIFICATION OF THE WAIVER OF FINANCIAL COVENANT TESTING BY NOTEHOLDERS

Hospitality’s financial covenant requirements in respect of the interest cover ratio for all of its listed
notes (namely HPF11, HPF12 and HPF13) in issue, as measured at 30 September and 31 March of each
year, is required to be as follows:

        Interest Cover Ratio is not less than 2:1 (two to one).

The Issuer confirms that the financial covenant testing and any non-compliance in respect of the
interest cover ratio for the period ending 30 September 2021 has been waived by all of the
noteholders of the notes in issue. The financial covenant testing in respect of the interest cover ratio
for the notes will resume for the period ending 31 March 2022.


27 May 2021

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 27-05-2021 05:22:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.