iMpumelelo CP Note Programme 1 (RF) Ltd

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iMpumelelo CP Note Programme 1 (RF) Ltd Series 1 Notes
  • iMpumelelo CP Note Programme 1 (RF) Ltd
  • Year : Mar 2022
3 Tokens
USD 300.00
Summary

The iMpumelelo Programme is a hybrid Serialised Note Programme that is fully supported by Absa Bank Ltd (“Absa” or the “Guarantor”). GCR’s rating methodology looks through to Absa’s issuer credit rating in order to accord a short-term rating to the Series 1 Notes, given the presence of the Absa Guarantee. In July 2021, GCR affirmed the Long-Term and Short-Term national scale issuer ratings of Absa at ‘AA(ZA)’ and ‘A1+(ZA)’ respectively, with a Negative Outlook . The rating may change should the rating of Absa change. The guarantee relates to the due, punctual and full payment and performance of all the Noteholders Guaranteed Obligations as well as the Issuer Guaranteed Obligations, being senior costs and expenses under the transaction documents.

Additional Information

The rating accorded to the abovementioned Notes relates to timely payment of interest and timely payment of principal. The rating excludes an assessment of the ability of the Issuer to pay any (early repayment) penalties. The rating accorded to the Series 1 Notes excludes the issuance of notes with a maturity of greater than one year. The Short-Term rating assigned to the Notes is linked to the Short-Term issuer rating assigned to the guarantor of the Notes, being Absa.

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