Wrap Text
Listing of new financial instruments
ACCELERATE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 2005/015057/06)
JSE code: APF ISIN code: ZAE000185815
Bond company code: APFE
LEI: 378900D514788C447E45
(Approved as a REIT by the JSE)
Bond code: APF23 ISIN: ZAG000214172
Bond code: APF24 ISIN: ZAG000214180
("Accelerate")
LISTING OF NEW FINANCIAL INSTRUMENTS
The JSE Limited has granted Accelerate the following listing of its Senior Secured Floating Rate Notes,
in terms of its Domestic Medium Term Note Programme dated 9 September 2014, effective
31 March 2025.
Debt Security Code: APF23
ISIN: ZAG000214172
Type of Debt Security: Floating Rate Notes
Nominal Issued: ZAR170,163,751
Issue Price: 100%
Issue Date: 31 March 2025
Coupon Rate: 3 Month JIBAR plus 350 basis points
In the event that the ZAR-JIBAR-SAFEX ceases to apply
the fallback rate will comprise a compounded South
African Overnight Index Average (ZARONIA) rate and a
spread that accounts for the differences between Jibar
and ZARONIA. This will be notified to the Noteholders
pursuant to Condition 16 (Notices)
Interest Commencement Date: 31 March 2025
Interest Rate Determination Date(s): 30 June, 30 September, 31 December and 31 March (or
the first Business Day of each Interest Period) of each
year until the Maturity Date, with the first Interest
Determination Date being 26 March 2025
First Interest Payment Date: 30 June 2025
Interest Payment Date(s): 30 June, 30 September, 31 December and 31 March, of
each year until the Maturity Date or, if such day is not a
Business Day, the Business Day on which interest will be
paid, as determined in accordance with the Applicable
Business Day Convention with the first Interest Payment
Date being 30 June 2025, or, if such day is not a Business
Day, the Business Day on which interest will be paid, as
determined in accordance with the Applicable Business
Day Convention
Last Day to Register: By 17h00 on 25 June, 25 September, 26 December and 26
March in each year until the Maturity Date, or if any early
redemption occurs, 5 days prior to the actual
Redemption Date
Books Close: The Register will be closed from 26 June to 29 June, 26
September to 29 September, 27 December to 30
December and 27 March to 30 March in each year until
the Maturity Date, or if any early redemption occurs, 4
days prior to the actual Redemption Date
Business Day Convention: Following Business Day
Maturity Date: 31 March 2027
Final Maturity Amount: 100 percent of Nominal Amount
Optional Redemption Date: 31 March 2026
Other: The pricing supplement does not contain additional
terms and conditions or changes to the terms and
conditions as contained in the Programme
Summary of Additional Terms: Please refer to the provisions regarding
redemption/maturity, the description of the security
arrangements under Appendix A, the additional terms
and conditions under Appendix B, which includes the
Guarantee, Financial Covenants and the Negative
Undertakings, the debt Guarantee under Appendix C, the
Additional Documents Incorporated by Reference under
Appendix D and the description of the Guarantors and
the Trustee under Appendix E of the pricing supplement
Programme Amount: R 5 000 000 000.00
Total Notes in Issue Under Programme: ZAR1 744 177 487 (excluding this issuance and any other
Notes issuing on the same Issue Date)
Dealer: FirstRand Bank Limited, acting through its Rand
Merchant Bank division
Debt Security Code: APF24
ISIN: ZAG000214180
Type of Debt Security: Floating Rate Notes
Nominal Issued: ZAR774 200 000
Issue Price: 100%
Issue Date: 31 March 2025
Coupon Rate: 3 Month JIBAR plus 350 basis points.
In the event that the ZAR-JIBAR-SAFEX ceases to apply
the fallback rate will comprise a compounded South
African Overnight Index Average (ZARONIA) rate and a
spread that accounts for the differences between Jibar
and ZARONIA. This will be notified to the Noteholders
pursuant to Condition 16 (Notices)
Interest Commencement Date: 31 March 2025
Interest Rate Determination Date(s): 31 May, 31 August, 30 November and 28 February (or the
first Business Day of each Interest Period) of each year
until the Maturity Date, with the first Interest
Determination Date being 26 March 2025
First Interest Payment Date: 31 May 2025
Interest Payment Date(s): 31 May, 31 August, 30 November and 28 February, of
each year until the Maturity Date or, if such day is not a
Business Day, the Business Day on which interest will be
paid, as determined in accordance with the Applicable
Business Day Convention with the first Interest Payment
Date being 31 May 2025 and the final Interest Payment
Date being 31 March 2027, or, if such day is not a Business
Day, the Business Day on which interest will be paid, as
determined in accordance with the Applicable Business
Day Convention
Last Day to Register: By 17h00 on 26 May, 26 August, 25 November and 23
February in each year until the Maturity Date, or if any
early redemption occurs, 5 days prior to the actual
Redemption Date
Books Close: The Register will be closed from 27 May to 30 May, 27
August to 30 August, 26 November to 29 November and
24 February to 27 February in each year until the
Maturity Date, or if any early redemption occurs, 4 days
prior to the actual Redemption Date
Business Day Convention: Following Business Day
Maturity Date: 31 March 2027
Final Maturity Amount: 100 percent of Nominal Amount
Optional Redemption Date: 31 March 2026
Other: The pricing supplement does not contain additional
terms and conditions or changes to the terms and
conditions as contained in the Programme
Summary of Additional Terms: Please refer to the provisions regarding
redemption/maturity, the description of the security
arrangements under Appendix A, the additional terms
and conditions under Appendix B, which includes the
Guarantee, Financial Covenants and the Negative
Undertakings, the debt Guarantee under Appendix C, the
Additional Documents Incorporated by Reference under
Appendix D and the description of the Guarantors and
the Trustee under Appendix E of the pricing supplement
Programme Amount: R 5 000 000 000.00
Total Notes in Issue Under Programme: ZAR1 744 177 487 (excluding this issuance and any other
Notes issuing on the same Issue Date)
Dealer: FirstRand Bank Limited, acting through its Rand
Merchant Bank division
Fourways
28 March 2025
Debt Sponsor
Questco Corporate Advisory
Date: 28-03-2025 04:22:00
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