AB Finco 2 (RF) Limited

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AB Finco 2 (RF) Limited -Transaction 2 - Series 1
  • AB Finco 2 (RF) Limited
  • Year : Oct 2020
2 Tokens
USD 150.00
Summary

GCR Ratings assigned a short-term issue credit rating to the R1bn Class A Notes issued by AB Finco 2 (RF) Limited (“AB Finco 2” or “the Issuer”) on 5 October 2020, under the R15bn AB Finco Multi-Issuer Note Programme (the “Programme”) established in December 2019 and administered by Absa Corporate and Investment Banking (“Absa CIB”), a division of Absa Bank Limited (“Absa Bank”).

Additional Information

GCR notes that the Transaction’s provision for mandatory Interest Rate Adjustment to maintain a spread that will cover whatever Senior Expenses the Issuer determines it will need to pay over the upcoming half-year secures the adequacy of the new TRS Floating Rate that may be offered by a replacement Derivative Counterparty. As

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