CANCELLATION OF S412628 New Financial Instruments: Auction Results - BILB
The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“the Land Bank”)
New Financial Instruments: Auction Results
The Land Bank is pleased to announce that a successful bond auction was concluded on 20 March 2019. During the
auction, the Bank raised R1.0bn. The salient features of the auction are the following:
? nineteen investors participated;
? total bids received amounted to R3.384bn (bid distribution skewed towards the longer end); and
? 93.4% bids were within pricing guidance
A total of R1.0bn was raised at the following clearing levels:
? 5 year FRN R0.450bn @ 3m JIBAR + 185bps (Previous issuance at 194bps)
? 7 year FRN (TAP) R0.250bn @ 3m JIBAR + 207bps (Previous issuance at 220bps)
? 10 year FIXED (TAP) R0.350bn @ R2030 + 145bps (Previous issuance at R2030 + 180bps)
All notes are expected to list on the JSE on or about  March 2019.
The continued broad-based investor support that the Bank enjoys as a State-owned Entity on an unguaranteed basis is
pleasing to note.
Land and Agricultural Development Bank of South Africa
Konehali Gugushe, Acting Chief Financial Officer
Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 012 686 0921
20 March 2019
The Standard Bank of South Africa Limited
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