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TKWI20 - New Financial Instruments Listing
The Thekwini Fund 20 (RF) Limited
("Thekwini 20")
Issuer Code: TKWI20
New Financial Instruments Listing Announcement
Stock Codes: TH20O3, T20A13, T20A23,T20A33, TH20B3, TH20C3, TH20D3
ISIN Codes: ZAG000222373, ZAG000222324, ZAG000222332,ZAG000222316,
ZAG000222340, ZAG000222357, ZAG000222365
The JSE Limited has granted Thekwini 20 the listing of its:
- "TH20O3" Floating Rate Notes due 21 February 2027; and
- "T20A13, T20A23,T20A33, TH20B3, TH20C3, TH20D3" Floating Rate
Notes all due 21 May 2062 (Step up and call date 21 May 2030,
except for T20A13 which has a Step up and call date of 21 May
2028)
issued in terms of its ZAR5,000,000,000 Asset Backed Note Programme
dated on or about 19 June 2025.
Total notes issued (incl. this issue): ZAR 4,994,311,185
Total notes issued (excl. this issue): ZAR 3,194,311,185
Full Note details are as follows:
Bond Code: TH20O3
Designation of Note: Secured Class Omega Note
Nominal Issued: ZAR 220,000,000
Coupon Rate: 7.167 % (being 50 bps over 3 month
JIBAR of 6.667 %)
Issue Price: 100%
Coupon Step-Up Rate: N/A
Coupon Indicator: Floating
Final Redemption Date: 21 February 2027
First Interest Payment Date: 21 May 2026
Coupon Step-Up Date: N/A
Interest Payment Dates: 21 May 2026, 21 August 2026, 21
November 2026 , and 21 February
2027
Books Close: 16 May 2026, 16 August 2026, 16
November 2026 and 16 February 2027
Last day to register: By 17:00 on 15 May 2026, 15 August
2026, 15 November 2026 and 15 May
2027
Interest Commencement Date: 23 February 2026
Settlement Date: 23 February 2026
Date Convention Following
ISIN No. ZAG000222373
Rating: P-1.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: T20A13
Designation of Note: Secured Class A1 Note
Nominal Issued: ZAR 489,000,000
Coupon Rate: 7.717 % (being 105 bps over 3 month
JIBAR of 6.667%)
Coupon Step-Up Rate: 137 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 May 2026
Coupon Step-Up Date: 21 May 2028
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 23 February 2026
Settlement Date: 23 February 2026
Date Convention Following
ISIN No. ZAG000222324
Rating: Aaa.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: T20A23
Designation of Note: Secured Class A2 Note
Nominal Issued: ZAR 603,000,000
Coupon Rate: 7.837 % (being 117 bps over 3 month
JIBAR of 6.667%)
Coupon Step-Up Rate: 152 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 May 2026
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 23 February 2026
Settlement Date: 23 February 2026
Date Convention Following
ISIN No. ZAG000222332
Rating: Aaa.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: T20A33
Designation of Note: Secured Class A3 Note
Nominal Issued: ZAR 243,000,000
Coupon Rate: 7.345 % per annum
Coupon Step-Up Rate: 152 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Fixed until Coupon Step-up Date then
Floating thereafter
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 May 2026
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 May and 21 November of each year
until Coupon Step-up Date and then
21 February, 21 May, 21 August and
21 November of each year
Books Close: 16 May and 16 November of each year
until Coupon Step-up Date and then
16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 May and 15 November
of each yeat until Coupon Step-up
Date and then By 17:00 on 15
February, 15 May, 15 August and 15
November of each year
Interest Commencement Date: 23 February 2026
Settlement Date: 23 February 2026
Date Convention Following
ISIN No. ZAG000222316
Rating: Aaa.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: TH20B3
Designation of Note: Secured Class B Note
Nominal Issued: ZAR 86,000,000
Coupon Rate: 7.997 % (being 133 bps over 3 month
JIBAR of 6.667%)
Coupon Step-Up Rate: 173 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 May 2026
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 23 February 2026
Settlement Date: 23 February 2026
Date Convention Following
ISIN No. ZAG000222340
Rating: Aaa.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: TH20C3
Designation of Note: Secured Class C Note
Nominal Issued: ZAR 86,000,000
Coupon Rate: 8.287 % (being 162bps over 3 month
JIBAR of 6.667%)
Coupon Step-Up Rate: 162 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 May 2026
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 23 February 2026
Settlement Date: 23 February 2026
Date Convention Following
ISIN No. ZAG000222357
Rating: A1.za (sf) by Moody's Investors
Service
Placement Agent: The Standard Bank of South Africa
Limited
Bond Code: TH20D3
Designation of Note: Secured Class D Note
Nominal Issued: ZAR 73,000,000
Coupon Rate: 9.117 % (being 245 bps over 3 month
JIBAR of 6.667%)
Coupon Step-Up Rate: 245 bps over 3 month JIBAR
Issue Price: 100%
Coupon Indicator: Floating
Final Redemption Date: 21 May 2062
First Interest Payment Date: 21 May 2026
Coupon Step-Up Date: 21 May 2030
Interest Payment Dates: 21 February, 21 May, 21 August and 21
November of each year
Books Close: 16 February, 16 May, 16 August and 16
November of each year
Last day to register: By 17:00 on 15 February, 15 May, 15
August and 15 November of each year
Interest Commencement Date: 23 February 2026
Settlement Date: 23 February 2026
Date Convention Following
ISIN No. ZAG000222365
Rating: N/A
Guarantee/Credit Enhancement The Issuer's obligations under the
notes issued is secured by a limited
recourse guarantee issued by The
Thekwini Fund 20 Security SPV (RF)
Pty Limited. For information
regarding credit enhancement,
please refer to the Programme
Memorandum which can be found at the
http://www.sahomeloans.com/investor
s
Placement Agent: The Standard Bank of South Africa
Limited
Date: 19 February 2026
Debt Sponsor: The Standard Bank of South Africa
Limited
Notes will be deposited in the Central Depository ("CSD") and
settlement will take place electronically in terms of JSE Rules.
For further information on the Notes issued please contact:
Chris Mparutsa Standard Bank (Sponsor) (011) 415 6122
Email: christian.mparutsa@standardbank.co.za
Date: 19-02-2026 11:44:00
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