THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - BILB-Increase in Capital Repayment to Certain Creditors

BILB-Increase in Capital Repayment to Certain Creditors

The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“Land Bank” or the “Issuer”)


Increase in Capital Repayment to certain financial creditors


In a SENS dated 11 January 2021, Land Bank announced that it has certain semi-annual capital amortisation
loan repayments that it is obliged to pay to its international funders during February and March 2021, and to
ensure equitable treatment of financial creditors and align the South African lenders, had decided to make a
payment of 10% of the nominal capital outstanding to financial creditors (including holders of the LBK22 and
LBK36 Notes (both of which have already matured)), who are not receiving such an amortisation loan
repayment.


Land Bank is pleased to announce that it will be increasing the capital repayment and will now be making an
aggregate repayment of 12% of the aggregate Nominal Amount on each of the LBK22 and LBK36 Notes and
to all financial creditors who are not receiving the abovementioned amortisation loan repayment. A SENS in
this regard relating to listed, unmatured notes was published on 15 January 2021.


All the other terms and dates relating to the capital repayment remain as were set out in the SENS of
11 January 2021.


Only the 12 % of the aggregate Nominal Amount will be paid on the settlement date (see Important Information
below). Land Bank will continue to pay accrued interest to financial creditors on the basis that it has done since
interest payments commenced on 11 August 2020.


Important Information


1.      Each Noteholder of the LBK22 and LBK36 Notes will receive an amount equal to 12% of the aggregate
        Nominal Amount (face value) of its capital holding in each of the Notes.


2.      A further SENS announcement will be sent out to communicate the exact settlement date but currently
        the expected date is 11 February 2021. The Noteholders are not required to take any action as the
        settlement will be done directly from Land Bank to the Noteholders via Strate / the CSD or CSDP’s.


3.      Once each Noteholder receives their relevant repayment, the holdings of each Noteholder will be
        reduced accordingly and the Register will be updated to reflect the reduction.
        DMTN Programme

 Bond              ISIN    Contractual   Total Issued   12% of the   Reduction in Amount after   Settlement/ Anticipated
 Code                       Maturity       Nominal      aggregate    the Nominal      partial                    pay
                              Date         Amount        Nominal       Amount       repayment    redemption date/effective
                                                         Amount                    (Remaining      amount    date of the
                                         (ZAR) before    (ZAR) of                    Nominal                  reduction
                                            partial         the                     Amount in
                                          repayment      relevant                     issue)
                                                        Notes held
                                                         by each
                                                        Noteholder

LBK36     ZAG000160532     25 June       200 000 000    24 000 000   24 000 000   176 000 000    24 000 000    11 February
                           2020                                                                                2021

LBK22     ZAG000146317     04            568 000 000    68 160 000   68 160 000   499 840 000    68 160 000    11 February
                           September                                                                           2021
                           2020




        20 January 2021


        Noteholders and potential investors are advised to exercise caution when dealing in the Land Bank’s
        notes and securities.


        Enquiries


        Land and Agricultural Development Bank of South Africa


        Ayanda Kanana, Chief Executive Officer
        Khensani Mukhari, Chief Financial Officer
        Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 074 159 6833


        Debt Sponsor


        The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking
        division
        (registration number: 1962/000738/06)
        Contacts: Ms Natalie Di-Sante
        Email: Natalie.di-sante@standardbank.co.za
        Tel: +27 (0) 11 721 6125

Date: 20-01-2021 04:49:00
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