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ACCELERATE PROPERTY FUND LIMITED - APFE - Financial Covenants Notification

Release Date: 06/12/2019 09:10
Code(s): APF05 APF06 APF11 APF10 APF07 APF04 APF08 APF09     PDF:  
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APFE - Financial Covenants Notification

Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
(Approved as a REIT by the JSE)
(“Accelerate” or “the Issuer”)

FINANCIAL COVENANTS NOTIFICATION

Noteholders are advised of the following financial covenant information applicable to the notes
listed by the Issuer:

    •   the Loan to Value Ratio does not exceed 50%;
    •   the Secured Properties Loan to Value Ratio does not exceed 45%;
    •   the Interest Cover Ratio shall be greater than 2.0 times; and
    •   the Secured Properties Interest Cover Ratio shall be greater than 2.0 times.

Accelerate wishes to further advise noteholders that testing of the financial covenants, for the
interim period ended 30 September 2019, has been completed and has been successfully passed.
The compliance certificate in respect of compliance with same is available for inspection at the
registered office of the Issuer, during normal working hours.

6 December 2019

Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa

Date: 06-12-2019 09:10:00
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