THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - Update on interest payments

Update on interest payments

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


Interest Payments

In the SENS announcement dated 19 May 2020, the Land Bank indicated that it is experiencing liquidity
challenges. The Land Bank continues to work towards putting in place a solution to its liquidity requirements.
In the circumstances, the Land Bank confirms that it will not be in a position to proceed with the interest
payments due between the date of this announcement and 09 June 2020 in respect of notes issued in
accordance with the Terms and Conditions of the Land Bank’s JSE- listed ZAR30 billion DMTN Programme
dated 13 March 2017 (the “2017 Programme”). Such failure to pay will, subject to the terms of the 2017
Programme, constitute an event of default under Condition 16 (Events of Default) of the terms and conditions
of the notes.


The following notes are affected:


 Bond           ISIN No         Scheduled Interest       Interest          Payment        Payment
 Code                           Payment Date             Payment Rate      Type           Amount (R)
 LBK22          ZAG000146317    04-June-2020             8.058%            Interest       11,536,406.79
 LBK23          ZAG000146325    05-June-2020             8.742%            Interest       13,463,159.01
 LBK33          ZAG000155953    08-June-2020             8.675%            Interest       16,221,061.64
 LBK20          ZAG000144627    08-June-2020             10.200%           Interest       40,433,917.81
 LBK29          ZAG000151853    08-June-2020             9.715%            Interest       37,700,055.62


The Land Bank will make further announcements in respect of interest and principal payments falling due after
08 June 2020 in due course.


01 June 2020


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
                                                                                                          2
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: 01-06-2020 05:45:00
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