SASFIN HOLDINGS LIMITED - Market Update on Securing of Long Term Funding

Market Update on Securing of Long Term  Funding

Sasfin Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1987/002097/06)
(“Sasfin” or “the Group”)
Ordinary share code:   SFN
ISIN: ZAE000006565
Preference share code: SFNP
ISIN: ZAE000060273


CONCLUSION OF LONG TERM FUNDING TRANSACTION BY SASFIN


1.INTRODUCTION


Sasfin shareholders are advised that Sasfin Bank Limited
(“Sasfin Bank”), a wholly owned subsidiary of Sasfin has
secured a term loan facility with International Finance
Corporation, a member of the World Bank Group (“IFC”), and the
Canadian Government’s Climate Change Program (“CCCP”).


2.TERMS AND CONDITIONS OF THE LOAN


The loan facility is a senior unsecured 7 year term loan at
favourable rates and is repayable on an amortising basis. The
size of the loan is broken down as follows:
- IFC:    ZAR 65,219,000
- CCCP:   USD 2,300,000


The facility is to be used for the financing of:
  - Energy Efficiency (“EE”) projects whereby a 20%
    improvement in energy efficiency is obtained;
  - Renewable Energy (“RE”) projects;
primarily in the small medium enterprise (“SME”) sector.
3.RATIONALE


The transaction will support expanded lending by Sasfin for
renewable energy and energy efficiency projects boosting
efficient use of energy resources and reduction of greenhouse
gas emissions. Sasfin is a specialist banking and financial
services group that focuses on entrepreneurial corporate,
commercial SME, and private clients.


This new funding line is now available to assist its SME
clients to become more energy efficient in their processes. In
the past the focus of driving down energy costs has been more
vigorously pursued by the larger corporates, the major
industrials and the mines. Energy efficiency and the tangible
savings that can flow from these interventions however affect
all businesses – both large and small.


The aim of this facility is to promote achieving energy saving
in the SME sector which includes the businesses of small
manufacturers, entrepreneurs, retailers, and property owners
which can significantly impact the overall energy efficiency
in our economy.

4. ABOUT THE IFC-CCCP

The IFC-CCCP promotes private sector financing for clean
energy projects. Canada’s financing to IFC for this program is
part of its overall fast-start financing contribution for
2010–2011. Under the Copenhagen Accord, developed countries
committed to provide fast-start financing of almost $30
billion for 2010–2012 to support climate-change mitigation and
adaptation in developing countries. As part of Canada’s
commitment to support climate change action in developing
countries, Canada is contributing $1.2 billion Canadian
dollars in new and additional climate-change financing over
three years (fiscals 2010–2013).




Johannesburg
31 JULY 2012


Joint Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)


Lead Sponsor
KPMG Services (Proprietary) Limited

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