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AFRICAN BANK LIMITED - ABL10A ABL10B ABLI03 - African Bank Limited (in Curatorship) maturing bonds

Release Date: 06/03/2015 15:52
Code(s): ABL10A ABLI03 ABL10B     PDF:  
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ABL10A  ABL10B  ABLI03 - African Bank Limited (in Curatorship) maturing bonds

AFRICAN BANK LIMITED
(in Curatorship)
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank” or “the Bank” or “ABL”))


African Bank Limited (in Curatorship) maturing bonds

According to the original terms under which they were issued in terms of African Bank’s Domestic
Medium Term Note programme, the following ABL bonds are due to mature on 15 March 2015:

      Instrument              ISIN number              Outstanding Nominal      Maturity Date
                                                       Amount
      ABL10A                  ZAG000065053             450,000,000              2015/03/15
      ABL10B                  ZAG000065061             500,000,000              2015/03/15
      ABLI03                  ZAG000076068             750,000,000              2015/03/15

Interested parties are referred to the Stock Exchange News Service (“SENS”) announcement
released by the Bank on 14 August 2014, relating to the suspension of interest and principal
payments on African Bank senior unsecured debt, excluding retail deposits and sundry creditors,
as a result of the curatorship of the Bank. Accordingly, repayment of both interest and capital on
the above listed bonds will not take place on the relevant maturity dates.

Interested parties are referred to the subsequent SENS announcements released on 26
September 2014, 10 December 2014 and 3 March 2015, which provided further information
regarding the intended restructuring proposal of the Bank.

As noted in the SENS notice dated 3 March 2015, the Curator intends to release an Information
Memorandum in due course which is expected to detail the intended restructuring approach of the
Bank and the impact of this on the bonds referred to above.


On behalf of the Curator of African Bank Limited

Midrand
6 March 2015

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

Footnote : T Winterboer was appointed as Curator of African Bank Limited on 10 August 2014 by
the Minister of Finance of the Republic of South Africa and pursuant to the Banks Act No. 94 of
1990 (as amended) to manage the affairs of African Bank Limited subject to the supervision of the
Registrar of Banks. Please note that Mr Winterboer acts in the aforesaid capacity.




                                              

Date: 06/03/2015 03:52:00 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.

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