Standard Bank And SA Home Loans Execute Refinance Issuance In The Thekwini Fund 17
Standard Bank And SA Home Loans Execute Refinance Issuance In The Thekwini Fund 17. Standard Bank, in partnership with SA Home Loans, is proud to announce that it has successfully executed a refinance issuance of the Class A1 Notes in the Thekwini Fund 17 (RF) Limited.
Standard Bank acted in its capacity as co-arranger and dealer in the transaction and facilitated a successful auction on the CreditConnect platform, where 9 investors submitted a total of R1.58 billion in bids. The net result was a 1.3x subscription at a great pricing level for SA Home Loans (SAHL). The bank is proud to be a part of the success of SAHL in the debt capital markets through transactions such as the recent Thekwini Fund 17 (RF) Limited (Thekwini 17) issuance.
SAHL is the leading securitisation issuer in the South African debt capital markets and plays a crucial role in providing mortgage financing to borrowers in the South African housing market. Making homeownership affordable for South Africans offers significant economic benefits, including promoting social stability, driving economic growth and attracting and retaining a skilled workforce, which is critical to the growth of businesses and industries. SAHL aims to become SA’s most trusted home loan provider by putting clients first and providing an amazing experience in their home ownership journey.
Standard Bank continues to support SAHL by acting as debt sponsor, settlement agent, standby servicer and liquidity facility provider to Thekwini 17. The company’s contribution to the residential property market and broader South African economy, despite challenges such as high interest rates and constrained consumers, remains highly valued by the investor community. Through the series of highly successful issuances such as the Thekwini 17 refinance, SAHL has demonstrated its ability to continuously access the debt capital markets for the benefit of not only itself but also the country’s residential mortgage market.
