South African Securitisation Programme (RF) Limited - Series 2

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South African Securitisation Programme (RF) Limited Series 2 (2021-11)
  • South African Securitisation Programme (RF) Limited - Series 2
  • Year : Nov 2021
3 Tokens
USD 300.00
Summary

SASP 2 is the second of three series of the R5bn Multi-Seller Segregated Asset-Backed Note Programme of rental and equipment lease financed assets originated by Sasfin Bank Ltd. SASP 2 is primarily made up of capital asset leases, while SASP Series 1 and SASP Series 3 are primarily made up of office equipment leases.

Additional Information

The capital structure has remained unchanged over the review period. GCR modelled a starting asset balance of R385m in performing assets in order to meet the 10% overcollateralisation requirement plus the R24.1m defaults as at July 2021, which sums up to R409.1m. This translates into an asset to notes ratio of 1.17x (October 2020 review: 1.14x).

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