Nitro Securitisation 6 (RF) Limited

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Nitro Securitisation 6 (RF) Limited (2021-12)
  • Nitro Securitisation 6 (RF) Limited
  • Year : Dec 2021
3 Tokens
USD 300.00
Summary

Nitro 6 is a public securitisation of Instalment Sale Agreements (“ISAs”) originated by WesBank and subsequently sold to the Issuer. The underlying assets to the ISAs comprise largely of passenger vehicles. The Class A Notes, Class B Notes and Class C Notes issued by the Issuer reached their respective maturity and were fully repaid. The ratings of these Notes were previously withdrawn. The Issuer also has unrated Class G Notes of R40,000,000.

Additional Information

The transaction does not have any portfolio covenants or performance triggers as it was established as an amortising structure. Nonetheless, GCR monitors credit protection metrics such as the excess spread, to determine whether the portfolio’s performance is in line with expectations. The cash reserve has been funded at its required amount throughout the period under review.

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