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BILB-Results of offer to Buy-Back 12% of nominal amount outstanding on notes

2021/02/23 08:59:00

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                    BILB-Results of offer to Buy-Back 12% of nominal amount outstanding on notes

The Land and Agricultural Development Bank of South Africa

(JSE Code: BILB)

(“Land Bank” or the “Issuer”)

For release: 23 February 2021

Results of offer to Buy-Back 12% of nominal amount outstanding on notes with bond code LBK38 issued in terms of Domestic Medium Term Note (“DMTN”)
programmes listed on the JSE

In the SENS announcements dated 11 January 2021 and 15 January 2021 (together the “Buy-Back SENS announcements”), Land Bank extended an invitation to
noteholders to offer to sell 12% of the aggregate Nominal Amount of the Buy-Back Offer Notes, held by each Noteholder, to Land Bank. Defined terms used in this
SENS announcement shall bear the meaning as defined in the Buy-Back SENS announcements.

In relation to the Buy-Back Offer Notes with bond code:

1.      LBK38, the Buy-Back Offer Invitation closed for offers to sell at 12pm, on 22 February 2021.

The Buy-Back SENS announcements stipulated that the results of the Buy-Back Offer Invitation would be disclosed to the market by way of a new SENS announcement
within 2 Business Days of the Closing Date.

Accordingly, Land Bank hereby announces the results of the Buy-Back Offer Invitation.

The following nominal amounts were offered per series and Land Bank hereby announces that these offers have been accepted by Land Bank.
2017 DMTN Programme
 Bond       ISIN             Contractual            Outstanding       12% of the aggregate            Remaining           Settlement            Settlement Date
 Code                        Maturity Date          Nominal           Nominal Amount (ZAR) of         Outstanding         Amount
                                                    Amount offered    the relevant Notes held by      Nominal
                                                    (ZAR) before      each Noteholder, Tendered       Amount (ZAR)
                                                    the Buy-Back      and accepted                    after the Buy-
                                                    Offer                                             Back Offer

 LBK38      ZAG000166240        16 February 2023     513 251 611.46                      61 503 967     451 747 644.46          61 588 927      26 February 2021

Settlement of the accepted offers, are scheduled as set out above.

Noteholders and potential investors are advised to continue to exercise caution when dealing in Land Bank’s notes and securities.


Land and Agricultural Development Bank of South Africa

Attention: GM: Treasury

Re: Land Bank Buy-Back Offer

E-mail address: TenderOffer@landbank.co.za

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: 23-02-2021 08:59:00
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