To view the PDF file, sign up for a MySharenet subscription.


Release Date: 22/03/2019 14:38
Wrap Text
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)      R0.300bn @ R2030 + 145bps           (Previous issuance at R2030 + 180bps)

All notes are expected to list on the JSE on or about [26] 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.

22 March 2019

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

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 22/03/2019 02:38:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story