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

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

The Land and Agricultural Development Bank of South Africa


(JSE Code: BILB)

(“Land Bank” or the “Issuer”)


For release: 17 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.      LBK31 and LBK28, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 15 February 2021; and

2.      LBK32 and LBK29, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 16 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)


 LBK31     ZAG000154204       20 September 2023         920 000 000                   110 256 000         809 744 000       111 267 878   19 February 2021
 LBK28     ZAG000151275             15 May 2028         925 000 000                   111 000 000         814 000 000       114 052 272   19 February 2021
 LBK32     ZAG000155243       08 November 2023          500 000 000                    60 000 000         440 000 000        60 128 462   22 February 2021
 LBK29     ZAG000151853             07 June 2023        765 000 000                    91 800 000         673 200 000        93 681 410   22 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: 17-02-2021 09:00:00
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