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JP Morgan and the Standard Bank of South Africa (SBSA) are marketing a R1.5bn (Eu153m) RMBS The Thekwini Fund 7 Pty Ltd.
The deal is a securitisation of 8,110 residential mortgage loans originated in South Africa by SA Home Loan Pty Ltd (SAHL) amounting to R3.125bn.
The collateral is made up of a variety of fixed and floating rate loans and has a weighted average of seasoning of nine months.
The loans have a weighted average current LTV of 60.5% and are spread throughout South Africa, with 46% in Gauteng.
SAHL originates the loans on behalf of the sellers, special purpose vehicles Main Street 65 and Thekwini Warehousing Conduit....