| Wed 24 Oct 2012, 10:25 | | THE THEKWINI FUND 10 - The Thekwini Fund 10 (RF) Limited Amendment Announcement |
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TH10A3 TH10A1 TH10A2 TH10B1 TH10C1 TH10D1 201210240019A
The Thekwini Fund 10 (RF) Limited – Amendment Announcement
The Thekwini Fund 10 (RF) Limited – Amendment Announcement
The Thekwini Fund 10 (RF) Limited – TH10A1, TH10A2, TH10A3,
TH10B1, TH10C1, TH10D1
Dated: 22 October 2012
Stock Code: TH10A1, TH10A2, TH10A3, TH10B1, TH10C1, TH10D1
ISIN Code: ZAG000096108, ZAG000096124, ZAG000096132,
ZAG000096090, ZAG000096116, ZAG000096082
Authorised Programme size R 4,000,000,000.00
Total notes issued R 1,800,000,000.00
(1) The definition of the “Class C Principal Lock-Out” has been
corrected in The Thekwini Fund 10 (RF) Limited ZAR4 000 000
000 Asset Backed Note Programme. A First Supplement to the
Programme Memorandum in respect of the ZAR4 000 000 000 Asset
Backed Note Programme has been published on the websites
www.jse.com and www.sahomeloans.com
(2) Following the recent rating action by Moody’s Investor
Services which impacted the global scale credit ratings of
South Africa banking institutions, the Issuer will be
amending certain rating triggers in some of the Transaction
Documents.
i. The required credit rating for the Guaranteed
Investment Contract will be amended to “…Prime-1 or
the Highest Short-Term Credit Rating…”;
ii. The “First Rating Trigger Requirement” in the Schedule
to the ISDA Master Agreement is reduced to “Baa1 or
higher”; and
iii. The “Second Rating Trigger Requirement” in the
Schedule to the ISDA Master Agreement is reduced to
“Baa2 or higher”
(3) The rating agency has confirmed that these changes will not
negatively affect the credit ratings of the Notes
Further information on the Note issued please contact:
Mike Brunke SBSA (Sponsor) (011) 378 8101
Email: mike.brunke@standardbank.co.za
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