TRANS - CALEDON TUNNEL AUTHORITY - Refinancing of TCTAs WS04 (12.5% May 2016) bond -WS04/WSP5

Refinancing of TCTA’s WS04 (12.5% May 2016) bond -WS04/WSP5

Trans-Caledon Tunnel Authority
(TCTA)

Refinancing of TCTA’s WS04 (12.5% May 2016) bond

Investors are alerted to the following:

TCTA will hold a series of switch and/or funding auctions in order to refinance its maturing WS04
bonds. TCTA intends to refinance the maturing WS04 with its WSP5 (9% May 2021) bond either
by allowing investors to switch from the WS04 bond to the WSP5 bond and/or by issuing the WSP5
bond to finance the redemption of the WS04 bond.
The object of the refinancing is to allow TCTA to retain cash to fund the commencement of Phase 2
of the Lesotho Highlands Water Project (LHWP).

Both bonds carry an explicit RSA government guarantee.

The first auction will be held on Thursday 18 February 2016. Anticipated further auction dates are
17 March 2016; 21 April 2016; and 19 May 2016.

For further information please contact:
Nyiko Mageza, TCTA Sponsor +27 12 683 1334

12 February 2016

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