ACCELERATE PROPERTY FUND LIMITED - Financial Covenants Notification
APF05 APF06 APF07 APF02 APF04 APF08 APF09 APFC01 201811260014A
Financial Covenants Notification
Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
(Approved as a REIT by the JSE)
("Accelerate" or "the Issuer")
FINANCIAL COVENANTS NOTIFICATION
Bondholders are advised of the following financial covenant information applicable to the notes
listed by the Issuer:
• the Loan to Value Ratio does not exceed 50%;
• the Secured Properties Loan to Value Ratio does not exceed 45%;
• the Interest Cover Ratio shall be greater than 2.0 times; and
• the Secured Properties Interest Cover Ratio shall be greater than 2.0 times.
Accelerate wishes to further advise bondholders that testing of the financial covenants for the
interim period ended 30 September 2018, has been completed and has been successfully passed.
The compliance certificate in respect of compliance with same is available for inspection at the
registered office of the Issuer, during normal working hours.
26 November 2018
Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa
Date: 26/11/2018 08:41:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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