THE STANDARD BANK OF SA LTD - Credit Event Announcement - CLN359 - CLN342

Credit Event Announcement - CLN359 - CLN342

The Standard   Bank   of   South   Africa   Limited
Credit   Event Announcement

THE STANDARD BANK OF SOUTH AFRICA LIMITED (REGISTRATION NUMBER
1962/000738/06) – Credit Event Announcement in respect of
CLN329, CLN330, CLN331 and CLN342.


NOTICE IS GIVEN TO ALL HOLDERS OF CLN329 (ISIN ZAG000105982),
CLN330 (ZAG000105990), CLN331 (ISIN ZAG000106006) and CLN342
(ISIN ZAG000109489) Listed Notes issued in terms of The Standard
Bank of South Africa Limited’s Structured Note Programme
(formerly the Credit Linked Note Programme) dated 1 February
2012 (the “Notes”).    Capitalised terms used and not otherwise
defined in this announcement have the meaning given to them in
the Pricing Supplements of the Notes, as read with the Programme
Memorandum.
Notice is hereby given that the Issuer has received notice from
the Calculation Agent that a Restructuring Credit Event has
occurred in respect of Edcon Limited, the Reference Entity under
each of the Notes, following the agreement reached between the
Reference Entity and all of its bank lenders to extend the
maturity of over ZAR7.9 billion of bank debt so that none of the
Reference Entity’s material debt obligations will mature for at
least two years.
A copy of the Credit Event Notice and Notice of Publicly
Available Information confirming the occurrence of the events
described above will be made available to Noteholders on
request.


Dated 14 December 2015


Sponsor – The Standard Bank of South Africa Limited
Further information on the Note issued please contact:
Johann Erasmus           SBSA (Sponsor)
Email: johann.erasmus@standardbank.co.za

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