Standard Bank And TUHF Conclude Issuances Under Urban Ubomi 1 With A R225m Private Placement

Standard Bank And TUHF Conclude Issuances Under Urban Ubomi 1 With A R225m Private Placement. Standard Bank is proud to announce that it has partnered with TUHF to facilitate the 3rd tap issue of notes under TUHF’s Urban Ubomi vehicle, raising R225m.

This follows the 2nd tap issue, which was concluded in December 2022, where R363m was raised via an auction. Urban Ubomi 1’s initial issue in May 2021 was SA’s first listed social bonds on the JSE. This was a landmark transaction, with the social bonds issued under TUHF’s Sustainable Bond Framework, which was developed with our assistance and was independently verified by ISS ESG. The proceeds of the bonds have improved access to funding for small businesses, in particular, previously disadvantaged property developers.

The impact of the transaction has been instrumental in supporting 167 SMME’s, to provide 8 035 affordable housing units across 263 buildings, while creating 479 permanent jobs and 564 short-term jobs. Standard Bank acted in its capacity as sole-arranger and dealer for Urban Ubomi 1 and continues to support Urban Ubomi by acting as debt sponsor and settlement agent.

This transaction has allowed TUHF and Standard Bank to raise a total of R1.65bn since the inception of the programme. The bank is proud to be associated with an entity making significant strides in the affordable housing market through financing inner-city developers and looks forward to growing TUHF’s presence in the securitisation market and partnering on further growth initiatives.

By Thomas Chiothamisi