AFP
AFP
AFP - Alexander Forbes Preference Share Investments Limited - Interest Rate
Applicable to the High Yield Term Loan partly owned by the Company
Alexander Forbes Preference Share Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/031561/06)
Share code: AFP ISIN number: ZAE000098067
("the Company")
INTEREST RATE APPLICABLE TO THE HIGH YIELD TERM LOAN PARTLY OWNED BY THE
COMPANY
Linked unit holders` attention is drawn to the definition of Interest Rate in
the High Yield Loan Agreement ("the Agreement") in respect of the High Yield
Term Loan issued by Alexander Forbes Funding Proprietary Limited ("the
Borrower"). The definition of "Interest Rate" in the Agreement provides that
the interest rate payable on the high yield term loan is 16.8% until the third
anniversary of the Closing Date (as defined in the Agreement, being 2 June
2012) after which the interest rate will reduce to the Prime Rate applicable
from time to time, plus 3% unless otherwise permitted by the Exchange Control
Department of the South African Reserve Bank ("SARB") and agreed between the
Lenders and the Borrower.
Linked unit holders are hereby notified that SARB has granted a dispensation
for the continuation of the existing arrangements, being a fixed interest rate
of 16.8%, for a further period of 18 months.
Johannesburg
11 May 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 11/05/2012 17:31:45 Produced by the JSE SENS Department.
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