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Sustainability linked bonds (RWL26 & RWL28) - availability of sustainability certificate
RAND WATER
Rand Water is established in terms of the Water Services Act 1997 (the "Act"). Through the Department of
Water and Sanitation and duly represented by the Minister of Water and Sanitation, the Government of the
Republic of South Africa is the sole shareholder of Rand Water. In terms of the Act, Rand Water's primary
activity is the provision of bulk water supply services (potable bulk water and sanitation services) within the
predetermined service area.
("Rand Water")
Bond Issuer Code: BIRW
Sustainability Linked Bonds (RWL26 & RWL28) - Availability of sustainability certificate
Noteholders are referred to Annexure A - additional terms and conditions contained in the applicable pricing
supplement relating to the RWL26 and RWL28 notes. Noteholder are further advised that the Sustainability
Certificate (as defined in the Applicable Pricing Supplements for RWL26 and RWL 28) which is accompanied
by the key performance indicator auditor's limited assurance report, is available on the Rand Water website at
https://www.randwater.co.za/DMTNdocuments.php.
The Sustainability Performance Targets for key performance indicator's (KPI's) Access to potable water and
Gender Equality were achieved. However, the Renewable Energy key performance indicator was not
satisfied. This is due to the challenges faced in respect of the conclusion of the award for the photovoltaic
tender, and Rand Water has since made necessary efforts within our supply chain management process
regarding the conclusion of this tender.
Accordingly, the step-down margin will not be applicable. The applicable margin for RWL26 will remain at
2.25%, and the interest rate for RWL28 will remain at 9.705%.
20 November 2023
Debt Sponsor
Nedbank Corporate Investment Banking, a division of Nedbank Limited
Rand Water information:
522 Impala Road, Glenvista, 2058, Johannesburg, Gauteng, South Africa
PO Box 1127, Johannesburg, 2000
www.randwater.co.za
For further information, please contact:
Lucky Ncobela, Debt Officer
083 212 0706
Date: 20-11-2023 05:30:00
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