BIBAY - Bayport Securitisation (RF) Ltd - Supplement to the Programme Memorandum

BIBAY - Bayport Securitisation (RF) Ltd - Supplement to the Programme Memorandum
Bayport Securitisation (RF) Ltd                                                 
(Incorporated with limited liability in the Republic of South Africa)           
(Registration number M2008/003557/06)                                           
Formerly called Bayport Securitisation (Proprietary) Limited                    
(with registration number 2008/003557/07)                                       
("Bayport Securitisation" or the "Company")                                     
SUPPLEMENT TO THE PROGRAMME MEMORANDUM                                          
On 20 May 2011, Bayport Securitisation registered a Programme Memorandum (the   
"Programme Memorandum"), to launch its ZAR4,400,000, 000 Asset Backed Note      
Programme. The first supplement to the Programme Memorandum was issued on 22    
September 2011 and a further supplement dated 25 April 2012 (the "Supplement")  
has been issued for the purpose of updating the Programme Memorandum in the     
following respects:                                                             
(i)       to cater for the introduction of the ability of Bayport Securitisation
to enter into a Liquidity Facility should it wish to do so. Currently  
         there is no Liquidity Facility in place;                               
(ii)      to make provision for the voting rights of any third party who grants 
         a Warehousing Facility and/or Liquidity Facility to the Company.       
The Supplement is supplemental to, and should be read in conjunction with the   
Programme Memorandum and the first supplement referred to above. The supplements
and the Programme Memorandum are available for download from Transaction Capital
(Proprietary) Limited`s website at                                              
http://www.transactioncapital.co.za/baysecdebt.aspx                             
25 April 2012                                                                   
Debt Sponsor                                                                    
Deutsche Bank AG, Johannesburg Branch                                           
Date: 25/04/2012 17:00:07 Supplied by www.sharenet.co.za                     
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