AB Finco 1 (RF) Limited

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AB Finco 1 (RF) Limited
  • AB Finco 1 (RF) Limited
  • Year : Jan 2020
3 Tokens
USD 300.00
Summary

 GCR Ratings assigned public long-term issue credit ratings to AB Finco 1 (RF) Limited (“AB Finco 1” or the “Issuer”) under its R15bn Multi-Issuer Note Programme (the “Programme”) established in December 2019. The Notes are issued under three segregated Series (each Series issuance will be referred to as a “Transaction”). Each Transaction entails the issuance of Secured Notes that are backed by collateral in the form of a corporate loan advanced by Absa Bank Limited through its Corporate and Investment Banking division (“Absa CIB”) to an underlying Borrower that is domiciled in South Africa. The Programme is administered by Absa CIB.

Additional Information

AB Finco 1 (RF) Limited was incorporated and registered as a public company with limited liability under the South African Companies Act, 2008 and is structured as an insolvency remote, ring-fenced special purpose vehicle. The ordinary shares of the Issuer are held by the Issuer Owner Trust and Absa CIB is the sole holder of a preference share. The Issuer’s activities are limited to those set out in the transaction documents, as well as its memorandum of incorporation. Primarily, this is limited to issuing notes under the serialised Programme and acquiring Participating Assets.

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