THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - BILB-Partial Payment of Matured NotesRelease Date: 11/01/2021 17:20:00 Code(s): LBK15 LBK32 LBK27 LBK18 LBK37 LBK33 LBK26 LBK29 LBK30 LBK31 LBK20 LBK23 LBK38 LBK35 LBK28 LBK24 PDF(s):
BILB-Partial Payment of Matured Notes
The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“Land Bank” or the “Issuer”)
For release: 11 January 2021
Land Bank: Notification of Partial Repayment of Matured Listed Debt Securities
Defined terms used in this SENS announcement shall bear the meaning as defined in Land Bank's ZAR30 Billion DMTN Programme dated 13 March 2017 (“DMTN
Programme”) listed on the Interest Rate Market of the Johannesburg Stock Exchange, unless inconsistent with the context or separately defined herein.
In the SENS announcements of 22 September 2020 and 23 November 2020, Land Bank confirmed that it would be making payment of the (5%) Part Capital Reduction
Repayment (as defined in, and) on the basis described in the SENS of 22 September 2020. The payment would be made by the end of February 2021.
Increase in Capital Repayment
Land Bank 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
uphold the INSOL principles and align the South African lenders, Land Bank has decided to make an additional repayment of 5% of the nominal capital outstanding to
financial creditors who are not receiving such an amortisation loan repayment. A commitment was provided to South African Lenders that the first 5% Part Capital
Reduction Repayment would be paid out before end February 2021. The next of these semi-annual capital amortisation payments to Land Bank’s international funders
are due during February and March 2021 and Land Bank has therefore decided to increase the 5% capital repayment amount to a 10% capital repayment amount and
to implement such payment before end February 2021.
As such, holders of the LBK22 and LBK36 Notes (both of which have already matured), are hereby advised that Land Bank will be making a repayment of 10% of the
aggregate Nominal Amount on each of the LBK22 and LBK36 Notes.
1. Each Noteholder of the LBK22 and LBK36 Notes will receive an amount equal to 10% 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.
Bond ISIN Contractual Maturit Total Issued 10% of the aggr Reduction in th Amount after pa Settlement/ re Anticipated pay
Code y Date Nominal Amo egate Nominal e Nominal Amo rtial repayment demption amo date/effective dat
unt Amount (ZAR) unt (Remaining No unt e of the reductio
of the relevant minal Amount i n
(ZAR) before Notes held by e n issue)
partial repay ach Noteholder
LBK36 ZAG000160532 25 June 2020 200 000 000 20 000 000 20 000 000 180 000 000 20 000 000 11 February 2021
LBK22 ZAG000146317 04 September 2020 568 000 000 56 800 000 56 800 000 511 200 000 56 800 000 11 February 2021
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
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
Tel: +27 (0) 11 721 6125
Date: 11-01-2021 05:20:00
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