Transsec4

Transsec 4 (RF) Limited (Transsec 4) is a ring-fenced securitisation vehicle issuing securities under a ZAR 2 500 000 000 Asset backed note programme.

Transsec 4 (RF) Limited (Transsec 4) is a ring-fenced securitisation vehicle issuing securities under a ZAR 2 500 000 000 Asset backed note programme (the Programme). Although the Programme is not rated, Transsec 4 will issue Notes rated by the international rating agency Moody's Rating Services. The Notes will also be listed on the Johannesburg Stock Exchange

SA TAXI

SA Taxi is a vertically integrated minibus taxi platform utilising specialist capabilities, enriched proprietary data & technology to provide developmental finance, insurance & other services to empower SMES & create shared value opportunities thus enabling the sustainability of the minibus taxi industry.

SA Taxi has played a pivotal role in empowering black SME’s since it was founded in 1998. As at 31 September 2018, SA Taxi had provided credit, together with insurance and other allied products to 24 616 minibus taxi operators.

SA Taxi is constituted, amongst others, by SA Taxi Holdings (Pty) Ltd (“SATH”) which fully owns SA Taxi Development Finance (Pty) Ltd (“SATDF”), the servicer and administrator of Transsec 4’s assets and liabilities, respectively.

SATH is a 73.88% held subsidiary of Transaction Capital Limited,

The Group has facilitated the creation of over 72 000 black SMMEs since 1998. As at the end of September 2018 gross loans and advances were R9.4bn, comprising of 30 617 accounts (24 616 customers).”



Disclosure documents

Document Date Download
Transsec 4 programme memorandum 19 February 2019 pdf-1

Applicable pricing supplements

Initial Issue
Class ISIN Stock code Size  (million) Rating Scheduled maturity Legal final maturity Download
A1

ZAG000157561

TRA4A1

ZAR107

P-1.za (sf)

13-Apr-2020

13-Apr-2020

pdf-1

A2

ZAG000157553

TRA4A2

ZAR300

Aaa.za (sf)

13-Apr-2022

13-Apr-2029

pdf-1

Class A3

ZAG000157546

TRA4A3

ZAR221

Aaa.za (sf)

13-Apr-2024

13-Apr-2029

pdf-1

Class A4

ZAG000157538

TRA4A4

ZAR92

Aaa.za (sf)

13-Apr-2024

13-Apr-2029 pdf-1

Class B

ZAG000157520

TRA4B1

ZAR160

Aa3.za (sf)

13-Apr-2024

13-Apr-2029 pdf-1


Credit rating

Document Date Download
Moody's Press Release Intiial Issuance 15 March 2019 pdf-1
Moody's New Issue Report Initial Issuance 15 March 2019 pdf-1
Pre-sale report 21 February 2019 pdf-1

Reports

Quick contacts

Get in touch, email us on dcm@sataxi.co.za or alternatively call us on +27 11 592 8466.



Transsec 4 disclaimer

The information on this website is provided for information purposes only and is subject to change. All material presented on this website (including, without limitation, trademarks, logos and the like) is under copyright to Transaction Capital Limited (“Transaction Capital”) and its direct and indirect subsidiaries (collectively “TC Group”). None of the material on this website may be altered in any way without the prior written consent of the TC Group.

This website does not include a personal recommendation and does not constitute an offer, or the solicitation of an offer for the sale or purchase of any financial product, instrument, service, investment or security. You should not deal in any financial products referred to on this website unless you understand the nature and extent of your exposure to risk and if you have any doubts, you should consult your investment advisor. Past performance is not indicative of future results.

For the avoidance of doubt, the TC Group’s duties and responsibilities shall not include tax advisory, legal, regulatory, accounting or other specialist or technical advice or services. You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.

The information available on this website is not for anyone living outside South Africa. In particular, nothing on this website is intended for anyone in the United States of America, Canada, the United Kingdom, Australia or Hong Kong or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject Transaction Capital to any registration or licensing requirement within such jurisdiction.

Neither Transaction Capital nor any member of the TC Group gives any representation, warranties or undertakings in relation to (i) the accuracy or completeness of the information on this website; (ii) the functioning of this website; (iii) the performance of any of the financial products, instruments, services, investments or security that may be referred to on this website.

The use of this website by you is entirely at your own risk. By using this website, you assume full responsibility for the risk or loss resulting from your use of this website and your reliance on any information set out on this website.


Transsec2

Transsec2 is a ring-fenced securitisation vehicle issuing
securities under a R4 billion Asset backed note programme.


Transsec 2 : SA Taxi and Standard Bank are proud to present SA Taxi’s new Transsec branded ABS transaction to the market.

Transsec 2 (RF) Limited

Transsec 2 (RF) Limited (Transsec 2) is a ring-fenced securitisation vehicle issuing securities under a ZAR 4 billion asset backed note programme (the Programme). Although the Programme is not rated, Transsec 2 issued Notes rated by the international rating agency S&P Global's Rating Services and listed on the Johannesburg Stock Exchange.

On 13 November 2014, Transsec 2 used the proceeds from three classes of tranches together with a subordinated loan provided by SA Taxi Finance Holdings Proprietary Limited (SATFH) to purchase ZAR 425 million portfolio of instalment sales agreements advanced to minibus taxi operators for the purpose of acquiring a minibus taxi. All the instalment sales agreements purchased by Transsec 2 are originated under SA Taxi Development Finance Proprietary Limited’s (SATDF) credit policy. Transsec 2 will purchase further portfolios of instalment sale agreements, provided that they comply with a set of specific eligibility criteria and portfolio covenants designed to preserve the credit quality of the initial asset portfolio, until 14 December 2016, at the latest.

For the avoidance of doubt, the TC Group’s duties and responsibilities shall not include tax advisory, legal, regulatory, accounting or other specialist or technical advice or services. You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.

SA Taxi

The SA Taxi Group (the Group) was founded in 1998 with its sole role being the financing of under-served black Small, Medium and Micro-sized Enterprises (SMME’s) being minibus taxi operators in South Africa. The Group has played a pivotal role in empowering black SMME’s and as at 31 March 2017, the Group provided credit, together with insurance and other allied products to 22 352 minibus taxi operators.

The SA Taxi Group is constituted, amongst others, by SA Taxi Finance Holdings (Pty) Ltd (SATFH) which fully owns SA Taxi Development Finance (Pty) Ltd (SATDF), the servicer and administrator of Transsec2’s assets and liabilities, respectively. SATFH is a 98% held subsidiary of Transaction Capital Limited

As the management company, all employees of the Group are employed by SATDF. As at the end of March 2017 SATDF employed 875 employees. SA Taxi protect employs a portion of employees (as at 31 March 2017 112 staff were employed by SAT Protect; 763 staff employed by SATDF).

The Group has facilitated the creation of over 58 000 black SMMEs since it was founded in 1998. As at the end of March 2017 gross loans and advances were R7.8bn, comprising of 27 142 accounts (22 352 customers).



Programme memorandum

Document Date Download
Programme memorandum supplement 15 December 2017 pdf-1
Programme memorandum 09 November 2015 pdf-1

Applicable pricing supplements

Tap Issue
Class ISIN Stock code Size  (million) Rating Scheduled maturity Legal final maturity Download
A4

ZAG000138116

TRA2A4

ZAR125

zaAA- (sf)

14 December 2018

14 December 2025

pdf-1

A5

ZAG000138124

TRA2A5

ZAR40

zaAA- (sf)

14 December 2020

14 December 2025

pdf-1

A6

ZAG000138132

TRA2A6

ZAR100

zaAA- (sf)

14 December 2020

14 December 2025

pdf-1

B

ZAG000138140

TRA2B2

ZAR105

zaAA- (sf)

14 December 2020

14 December 2025 pdf-1

C

ZAG000138157

TRA2C2

ZAR79

zaA (sf)

14 December 2020

14 December 2025 pdf-1
D

ZAG000138165

 TRA2D2

ZAR2

NR

14 December 2020

14 December 2025 pdf-1

Tranche 1
Class ISIN Stock code Size  (million) Rating Scheduled maturity Legal final maturity Download
A1

ZAG000131087

TRA2A1

ZAR148

zaAA- (sf)

14 December 2018

14 December 2025

pdf-1

A2

ZAG000131095

TRA2A2

ZAR25

zaAA- (sf)

12 December 2020

14 December 2025

pdf-1

A3

ZAG000131103

TRA2A3

ZAR61

zaAA- (sf)

12 December 2020

14 December 2025

pdf-1

B

ZAG000131111

TRA2B1

ZAR73

zaAA- (sf)

12 December 2020

14 December 2025 pdf-1

C

ZAG000131129

TRA2C1

ZAR14

zaA (sf)

12 December 2020

14 December 2025 pdf-1
D

ZAG000131137

 TRA2D1

ZAR75

NR

12 December 2020

14 December 2025 pdf-1

Credit rating

Document Date Download
S&P Global's Review 19th December 2017 pdf-1
S&P Global's Review 9th November 2017 pdf-1
S&P Global's Rating Report 6th June 2017 pdf-1
S&P Global's New Issue Report Tap Issuance 8th August 2016 pdf-1
S&P Global's Media Release Tap Issuance 8th August 2016 pdf-1
S&P Global's New Issue Report 24 November 2015 pdf-1
S&P Global's Final Rating Report 16 November 2015 pdf-1
S&P Global's Pre-sale Report. 30 October 2015 pdf-1

Reports

SENS announcements

Transsec2 Sens
  20th December 2017 - Transsec2 rating downgrade  (793.5k)
  19th December 2017 - Amendments to programme memorandum  (805.8k)
  14th December 2017 - Transsec2 interest rate reset announcement for the period ended 14 December 2017  (795.9k)
  13th December 2017 - Transsec2 partial redemption  (896k)
  12th December 2017 - Transsec2 quarterly "Investor Report" for the period ended 30 November 2017  (708.5k)
  29th November 2017 - Notice to noteholders  (849.4k)
  9th November 2017 - Transsec2 rating upgrade  (789.1k)
  14th September 2017 - Transsec2 interest rate reset announcement for the period ended 14 September 2017  (889.6k)
  14th September 2017 - Transsec2 partial redemption  (889.6k)
  12th September 2017 - Transsec2 quarterly "Investor Report" for the period ended 31 August 2017  (708.7k)
  14th June 2017 - Transsec2 interest rate reset announcement for the period ended 14 June 2017  (797k)
  14th June 2017 - Transsec2 partial redemption  (889.6k)
  12th June 2017 - Transsec2 quarterly "Investor Report" for the period ended 31 May 2017  (709k)
  14th March 2017 - Transsec2 partial redemption  (540.7k)
  14th March 2017 - Transsec2 rating downgrade  (791.8k)
  14th March 2017 - Transsec2 interest rate reset announcement for the period ended 14 March 2017  (797k)
  10th March 2017 - Transsec2 quarterly "Investor Report" for the period ended 28 February 2017  (708.7k)
  25th January 2017 - Transsec2 audited annual financial statements  (703.3k)

Quick contacts

Get in touch, email us on dcm@sataxi.co.za or alternatively call us on +27 11 592 8466.


Transsec 2 disclaimer

The information on this website is provided for information purposes only and is subject to change. All material presented on this website (including, without limitation, trademarks, logos and the like) is under copyright to Transaction Capital Limited (“Transaction Capital”) and its direct and indirect subsidiaries (collectively “TC Group”). None of the material on this website may be altered in any way without the prior written consent of the TC Group.

This website does not include a personal recommendation and does not constitute an offer, or the solicitation of an offer for the sale or purchase of any financial product, instrument, service, investment or security. You should not deal in any financial products referred to on this website unless you understand the nature and extent of your exposure to risk and if you have any doubts, you should consult your investment advisor. Past performance is not indicative of future results.

For the avoidance of doubt, the TC Group’s duties and responsibilities shall not include tax advisory, legal, regulatory, accounting or other specialist or technical advice or services. You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.

The information available on this website is not for anyone living outside South Africa. In particular, nothing on this website is intended for anyone in the United States of America, Canada, the United Kingdom, Australia or Hong Kong or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject Transaction Capital to any registration or licensing requirement within such jurisdiction.

Neither Transaction Capital nor any member of the TC Group gives any representation, warranties or undertakings in relation to (i) the accuracy or completeness of the information on this website; (ii) the functioning of this website; (iii) the performance of any of the financial products, instruments, services, investments or security that may be referred to on this website.

The use of this website by you is entirely at your own risk. By using this website, you assume full responsibility for the risk or loss resulting from your use of this website and your reliance on any information set out on this website.