THE THEKWINI FUND 10 - The Thekwini Fund 10 (RF) Limited Amendment Announcement

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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