THE THEKWINI FUND 14 (RF) LIMITED - Interest Rate Resets

Interest Rate Resets

The Thekwini Fund 14 (RF) Limited
(incorporated with limited liability in the Republic of South
Africa)
(Registration number: 2015/327767/07)
Instrument Code: TH14A1 ISIN: ZAG000140435
Instrument Code: TH14A2 ISIN: ZAG000140443
Instrument Code: TH14A3 ISIN: ZAG000140450
Instrument Code: TH14A4 ISIN: ZAG000140468
Instrument Code: TH14A5 ISIN: ZAG000141938
Instrument Code: TH14A6 ISIN: ZAG000141946
Instrument Code: TH14A7 ISIN: ZAG000141953
Instrument Code: TH14A8 ISIN: ZAG000141961
Instrument Code: TH14B1 ISIN: ZAG000140476
Instrument Code: TH14B2 ISIN: ZAG000141979
Instrument Code: TH14C1 ISIN: ZAG000140484
Instrument Code: TH14C2 ISIN: ZAG000141987
Instrument Code: TH14D1 ISIN: ZAG000140492
Instrument Code: TH14D2 ISIN: ZAG000141995

The Thekwini Fund 14 (RF) Limited Interest rate reset

Please note, for the interest period from and including 21
February 2017 to, but excluding, 22 May 2017, the interest
rates for The Thekwini Fund 14 (RF) Limited Notes will be as
follows:

  R81 000 000.00 Class A1 Secured Floating Rate Notes due 21
  November 2017 (the Class A Notes) (ISIN No. ZAG000140435;
  Bond Code TH14A1)
  R610 000 000.00 Class A2 Secured Floating Rate Notes due 21
  November 2051 the Class A Notes) (ISIN No. ZAG000140443;
  Bond Code TH14A2)
  R250 000 000.00 Class A3 Secured Fixed Rate Notes due 21
  November 2051 (the Class A Notes) (ISIN No. ZAG000140450;
  Bond Code TH14A3)
  R112 000 000.00 Class A4 Secured Floating Rate Notes due 21
  November 2051 (the Class A Notes) (ISIN No. ZAG000140468;
  Bond Code TH14A4)*
  R124 000 000.00 Class A5 Secured Floating Rate Notes due 21
  February 2018 (the Class A Notes) (ISIN No. ZAG000141938;
  Bond Code TH14A5)
  R300 000 000.00 Class A6 Secured Fixed Rate Notes due 21
  November 2051 (the Class A Notes) (ISIN No. ZAG000141946
  Bond Code TH14A6)
  R798 000 000.00 Class A7 Secured Floating Rate Notes due 21
  November 2051 (the Class A Notes) (ISIN No. ZAG000141953;
  Bond Code TH14A7)
  R270 000 000.00 Class A8 Secured Floating Rate Notes due 21
  November 2051 (the Class A Notes) (ISIN No. ZAG000141961;
  Bond Code TH14A8)*
R42 000 000.00 Class B1 Secured Floating Rate Notes due 21
November 2051 (the Class B Notes) (ISIN No. ZAG000140476;
Bond Code TH14B1)
R56 000 000.00 Class B2 Secured Floating Rate Notes due 21
November 2051 (the Class B Notes) (ISIN No. ZAG000141979;
Bond Code TH14B2)
R52 000 000.00 Class C1 Secured Floating Rate Notes due 21
November 2051 (the Class C Notes) (ISIN No. ZAG000140484;
Bond Code TH14C1)
R21 000 000.00 Class C2 Secured Floating Rate Notes due 21
November 2051 (the Class C Notes) (ISIN No. ZAG000141987;
Bond Code TH14C2)
R36 000 000.00 Class D1 Secured Floating Rate Notes due 21
November 2051 (the Class D Notes) (ISIN No. ZAG000140492;
Bond Code TH14D1)
R31 000 000.00 Class D2 Secured Floating Rate Notes due 21
November 2051 (the Class D Notes) (ISIN No. ZAG000141995;
Bond Code TH14D2)
(Collectively, the Notes)

Notice is hereby given, in accordance with condition 8.3.of
the terms and conditions of the Notes, that the JIBAR rate
for the interest period (from and including 21 February 2017
to, but excluding, 22 May 2017) based on JIBAR for 3-month
Rand deposits for the floating rate Notes, was fixed at
7.325% on 21 February 2017.

Interest on the Class A1 Floating Rate Notes for the
interest period was set at 8.175%
Interest on the Class A2 Floating Rate Notes for the
interest period was set at 8.925%
Interest on the Class A3 Floating Rate Notes for the
interest period was set at 9.215%
*Interest on the Class A4 Fixed Rate Notes for the interest
period was set at 10.098%
Interest on the Class A5 Floating Rate Notes for the
interest period was set at 8.075%
Interest on the Class A6 Floating Rate Notes for the
interest period was set at 8.875%
Interest on the Class A7 Floating Rate Notes for the
interest period was set at 9.135%
*Interest on the Class A8 Fixed Rate Notes for the interest
period was set at 9.350%
Interest on the Class B1 Floating Rate Notes for the
interest period was set at 9.825%
Interest on the Class B2 Floating Rate Notes for the
interest period was set at 9.525%
Interest on the Class C1 Floating Rate Notes for the
interest period was set at 10.325%
Interest on the Class C2 Floating Rate Notes for the
interest period was set at 10.125%
Interest   on the   Class D1 Floating Rate Notes for the
interest   period   was set at 13.325%
Interest   on the   Class D2 Floating Rate Notes for the
interest   period   was set at 13.115%

*Fixed note interest is paid semi-annually.

21 February 2017

Debt Sponsor
The Standard Bank of South Africa Limited

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