THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - Follow up announcement confirming that an Event of Default has occurred

Follow up announcement confirming that an Event of Default has occurred

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


Follow up announcement confirming that an Event of Default has occurred


On 23 April 2020, the Land Bank issued a SENS announcement advising noteholders holding listed notes
issued under Land Bank’s JSE-listed (i) ZAR 20 Billion DMTN Programme dated 18 October 2010 (the “2010
Programme”) and its (ii) ZAR 30 Billion DMTN Programme dated 13 March 2017 (the “2017 Programme”) that
the Land Bank anticipated possible further defaults under debts falling due today, and that if such defaults
occurred, this would result in an Event of Default under the notes.

Those defaults have subsequently occurred and accordingly, Condition 12.1.4 (Events of Default) of the terms
and conditions of the notes under the 2010 Programme and Condition 16.1.1.4 (Cross Default) of the terms
and conditions of the notes under the 2017 Programme, have been triggered and an Event of Default under
the notes has occurred.

A notice in accordance with Condition 12.2 (Events of Default) of the terms and conditions of the notes under
the 2010 Programme and a notice in accordance with Condition 16.3 (Notification of Event of Default) of the
terms and conditions of the notes under the 2017 Programme, will be sent to all noteholders, the dealers
appointed for the respective notes, and to the JSE.

Accordingly, noteholders and potential investors are advised to exercise caution when dealing in the
Land Bank’s notes and securities.

Noteholders will be kept appraised of developments.

Copies of the 2010 Programme, the 2017 Programme, and the relevant Applicable Pricing Supplements can
be accessed on the Issuer’s Website at the following link: www.landbank.co.za


23 April 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
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Debt Sponsor
The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division
(registration number: 1962/000738/06)
Contacts:


Ms Z Sisulu
Email: Zoya.Sisulu@standardbank.co.za
Tel: +27 (0) 11 721 6032
Ms Natalie Di-Sante
Email: Natalie.di-sante@standardbank.co.za
Tel: +27 (0) 11 721 6125

Date: 24-04-2020 07:05:00
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