Bank of China provides ZAR 77 million to Land Bank through Facility B of syndicated loan (Linked to Project ID#87598)

In Fiscal Year 2016, Bank of China (BOC) lent a total of ZAR 154 million to the Land and Agricultural Development Bank of South Africa (Land Bank) 'to increase the maturity profile of the Land Bank's funding liabilities.' Bank of China's contribution was equally divided (ZAR 77 each) between Facility A (as captured via Project ID#87598) and Facility B (as captured via Project ID#87599). These facilities were part of a larger ZAR 2.7 billion syndicated loan with Absa Group Ltd. and Standard Bank South Africa (SBSA). The syndicated loan was guaranteed by the Government of South Africa. Facility A had a total value of ZAR 1.604 billion and a 6-year repayment period. Land Bank voluntarily prepaid ZAR 524 million and on May 31, 2018 but the entire ZAR 77 million from BOC was still outstanding as of August 31, 2018. Facility B had a total value of ZAR 1.096 million and a 7-year repayment period. Land Bank voluntarily prepaid ZAR 679 million on June 29, 2018 bringing the BOC outstanding balance down to ZAR 65 million as of August 31, 2018.

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