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AFP - Alexander Forbes Preference Share Investments Limited - Interest Rate

Release Date: 11/05/2012 17:31
Code(s): AFP
Wrap Text

AFP - Alexander Forbes Preference Share Investments Limited - Interest Rate Applicable to the High Yield Term Loan partly owned by the Company Alexander Forbes Preference Share Investments Limited (Incorporated in the Republic of South Africa) (Registration number 2006/031561/06) Share code: AFP ISIN number: ZAE000098067 ("the Company") INTEREST RATE APPLICABLE TO THE HIGH YIELD TERM LOAN PARTLY OWNED BY THE COMPANY Linked unit holders` attention is drawn to the definition of Interest Rate in the High Yield Loan Agreement ("the Agreement") in respect of the High Yield Term Loan issued by Alexander Forbes Funding Proprietary Limited ("the Borrower"). The definition of "Interest Rate" in the Agreement provides that the interest rate payable on the high yield term loan is 16.8% until the third anniversary of the Closing Date (as defined in the Agreement, being 2 June 2012) after which the interest rate will reduce to the Prime Rate applicable from time to time, plus 3% unless otherwise permitted by the Exchange Control Department of the South African Reserve Bank ("SARB") and agreed between the Lenders and the Borrower. Linked unit holders are hereby notified that SARB has granted a dispensation for the continuation of the existing arrangements, being a fixed interest rate of 16.8%, for a further period of 18 months. Johannesburg 11 May 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 11/05/2012 17:31:45 Supplied by www.sharenet.co.za 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.

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