|
BILB-Increase in Capital Repayment to Certain Creditors
The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(“Land Bank” or the “Issuer”)
Increase in Capital Repayment to certain financial creditors
In a SENS dated 11 January 2021, Land Bank announced that it has certain semi-annual capital amortisation
loan repayments that it is obliged to pay to its international funders during February and March 2021, and to
ensure equitable treatment of financial creditors and align the South African lenders, had decided to make a
payment of 10% of the nominal capital outstanding to financial creditors (including holders of the LBK22 and
LBK36 Notes (both of which have already matured)), who are not receiving such an amortisation loan
repayment.
Land Bank is pleased to announce that it will be increasing the capital repayment and will now be making an
aggregate repayment of 12% of the aggregate Nominal Amount on each of the LBK22 and LBK36 Notes and
to all financial creditors who are not receiving the abovementioned amortisation loan repayment. A SENS in
this regard relating to listed, unmatured notes was published on 15 January 2021.
All the other terms and dates relating to the capital repayment remain as were set out in the SENS of
11 January 2021.
Only the 12 % of the aggregate Nominal Amount will be paid on the settlement date (see Important Information
below). Land Bank will continue to pay accrued interest to financial creditors on the basis that it has done since
interest payments commenced on 11 August 2020.
Important Information
1. Each Noteholder of the LBK22 and LBK36 Notes will receive an amount equal to 12% of the aggregate
Nominal Amount (face value) of its capital holding in each of the Notes.
2. A further SENS announcement will be sent out to communicate the exact settlement date but currently
the expected date is 11 February 2021. The Noteholders are not required to take any action as the
settlement will be done directly from Land Bank to the Noteholders via Strate / the CSD or CSDP’s.
3. Once each Noteholder receives their relevant repayment, the holdings of each Noteholder will be
reduced accordingly and the Register will be updated to reflect the reduction.
DMTN Programme
Bond ISIN Contractual Total Issued 12% of the Reduction in Amount after Settlement/ Anticipated
Code Maturity Nominal aggregate the Nominal partial pay
Date Amount Nominal Amount repayment redemption date/effective
Amount (Remaining amount date of the
(ZAR) before (ZAR) of Nominal reduction
partial the Amount in
repayment relevant issue)
Notes held
by each
Noteholder
LBK36 ZAG000160532 25 June 200 000 000 24 000 000 24 000 000 176 000 000 24 000 000 11 February
2020 2021
LBK22 ZAG000146317 04 568 000 000 68 160 000 68 160 000 499 840 000 68 160 000 11 February
September 2021
2020
20 January 2021
Noteholders and potential investors are advised to exercise caution when dealing in the Land Bank’s
notes and securities.
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
Debt Sponsor
The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking
division
(registration number: 1962/000738/06)
Contacts: Ms Natalie Di-Sante
Email: Natalie.di-sante@standardbank.co.za
Tel: +27 (0) 11 721 6125
Date: 20-01-2021 04:49:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||
|
|||||||||
