Standard Bank And SA Home Loans Facilitate A Successful Auction For Thekwini 18
Standard Bank And SA Home Loans Facilitate A Successful Auction For Thekwini 18. Standard Bank of South Africa in partnership with SA Home Loans (“SAHL”) has successfully facilitated the 1st tap issuance of notes under SA Home Loans’ Thekwini 18 vehicle. Standard Bank acted as Co-Arranger and Dealer for Thekwini 18 and continues to support SAHL by acting as Debt Sponsor, Settlement Agent, Standby Servicer and Liquidity Facility provider.
The transaction demonstrates the power and effectiveness of Standard Bank’s partnership with SAHL. “SA Home Loans together with Standard Bank successfully concluded the first tap issue under the Thekwini Fund 18 programme, raising R1.7bn in a well subscribed auction. The successful execution of the transaction assisted by our CreditConnect platform, ensured that SA Home Loans continued to benefit from its strong presence in the debt capital markets. The transaction marks a strong finish to the year for SA Home Loan’s funding in the securitisation market” said Chris Mparutsa, Manager, Debt Capital Markets at Standard Bank.
Conducted through Standard Bank’s CreditConnect platform, the transaction saw strong support from institutional investors, with a net result of 1.65x oversubscription at a great pricing level for SAHL. CreditConnect is a digital bond market platform that allows issuers and investors to engage throughout the bond issuance process. Available through OneHub, it is one of the ways in which the company is using technology to provide the best solutions to clients.
The transaction will ensure that SAHL continues to benefit from debt capital markets funding at favourable rates and play a crucial role in addressing the housing needs of South African society, as the largest non-bank financial institution home loan provider.
