THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - BILB-Results of offer to Buy-Back 12% of nominal amount outstanding

BILB-Results of offer to Buy-Back 12% of nominal amount outstanding

The Land and Agricultural Development Bank of South Africa


(JSE Code: BILB)

(“Land Bank” or the “Issuer”)


For release: 15 February 2021


Results of offer to Buy-Back 12% of nominal amount outstanding on notes issued in terms of Domestic Medium Term Note (“DMTN”) programmes listed
on the JSE




In the SENS announcements dated 11 January 2021 and 15 January 2021 (together the “Buy-Back SENS announcements”), Land Bank extended an invitation to
noteholders to offer to sell 12% of the aggregate Nominal Amount of the Buy-Back Offer Notes, held by each Noteholder, to Land Bank. Defined terms used in this
SENS announcement shall bear the meaning as defined in the Buy-Back SENS announcements.

In relation to the Buy-Back Offer Notes with bond codes:

1.      LBK27, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 11 February 2021; and

2.      LBK30, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 12 February 2021.

The Buy-Back SENS announcements stipulated that the results of the Buy-Back Offer Invitation would be disclosed to the market by way of a new SENS announcement
within 2 Business Days of the Closing Date.

Accordingly, Land Bank hereby announces the results of the Buy-Back Offer Invitation.

The following nominal amounts were offered per series and Land Bank hereby announces that these offers have been accepted by Land Bank.
                                                                                                      2
2017 DMTN Programme
 Bond     ISIN               Contractual            Outstanding       12% of the aggregate          Remaining           Settlement        Settlement Date
 Code                        Maturity Date          Nominal           Nominal Amount (ZAR) of       Outstanding         Amount
                                                    Amount offered    the relevant Notes held by    Nominal
                                                    (ZAR) before      each Noteholder, Tendered     Amount (ZAR)
                                                    the Buy-Back      and accepted                  after the Buy-
                                                    Offer                                           Back Offer
                                                                      (ZAR)


 LBK27     ZAG000150335      23 March 2023            2 020 000 000                   242 387 604      1 777 612 396        244 538 200   17 February 2021
 LBK30     ZAG000154196      20 September 2021          306 000 000                    36 360 000         269 640 000        36 652 869   18 February 2021


Settlement of the accepted offers, are scheduled as set out above.




Noteholders and potential investors are advised to continue to exercise caution when dealing in Land Bank’s notes and securities.
                                                                                                         3
Enquiries

Land and Agricultural Development Bank of South Africa

Attention: GM: Treasury

Re: Land Bank Buy-Back Offer


E-mail address: TenderOffer@landbank.co.za



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




End

Date: 15-02-2021 02:12:00
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