LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - Land Bank Bond Auction Results-BILB
LBK29 LBK30 LBK31 201809190003A
Land Bank Bond 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 17 September
2018. During the auction, the Bank raised R1.5bn. The salient features of the auction are the following:
- eighteen investors participated;
- total bids received amounted to R2.153bn (bid distribution skewed towards the longer end);
and
- all bids were within pricing guidance
A total of R1.5bn was raised at the following clearing levels:
- 3 year R0.306bn @ 3 m JIBAR + 135bps (Yield compression – 14bps from previous
FRN auction)
- 5 year R0.920bn @ 3m JIBAR + 195bps (Yield compression – 20bps from previous
FRN auction)
- 5 year R0.274bn @ R2023 + 170bps
FIXED
All notes are expected to list on the JSE on or about [20] September 2018.
The continued broad-based investor support that the Bank enjoys as a State-owned Entity is pleasing
to note.
Non-Executive Directors (NEDS) of the Land Bank Board
Further to the SENS Announcement dated 22 August 2018, the Land Bank is pleased to announce that
the following Board members have been reappointed by the Minister of Finance for a three-year period,
from 01 October 2018 – 30 September 2021:
- Adv. S Coetzee; and
- Ms M Makgatho
The reappointments will ensure that the Board continues business without compromising the Board
quorum and its decision-making capacity.
18 September 2018
Enquiries
Land and Agricultural Development Bank of South Africa
Bennie van Rooy, Chief Financial Officer
Rebecca Phalatse – Tel: 012 686 0921
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 19/09/2018 07:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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