CREDITINNOVATION’S ZAR 1 BILLION NOTE PROGRAMME BY SSI SCF (RF)
South Africa
We advised SSI SCF (RF) (as issuer), CreditInnovation (as arranger and dealer) and Rand Merchant Bank (as dealer) on the establishment of a ZAR 1 billion note programme by the issuer. This is a bespoke asset backed structure whereby the SPV issuer is able to leverage off the provision of a direct guarantee/ credit support from a third party guarantor. Notes issued under the programme will also benefit from certain underlying payment obligations acquired by the issuer with the issuance proceeds.
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