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Counterparty eligibility - AHF2A1, AHF2B1, AHF2C1
Amber House Fund 2 (RF) Ltd
(Incorporated in South Africa as a public company with limited
liability under registration number 2012/065316/06)
Dated: 12 December 2014
Authorised Programme size R 4,000,000,000.00
Total notes outstanding R 800,000,000.00
Following the rating downgrade of The Standard Bank of South
Africa Limited (“SBSA”) by Moody’s Investor Services to Baa2 on
10 November 2014, SBSA no longer has the Required Rating in
terms of the Interest Rate Swap Agreement. Consequently SBSA is
required to post collateral to be deposited with an institution
that has the Required Rating and/or be replaced as the swap
counterparty. As none of the other South African banks have a
rating higher than SBSA the Issuer has engaged with Moody’s
Investor Services to amend the First Trigger Required Rating
threshold in line with the credit ratings of the highest rated
South African banks. The Issuer anticipates this process to be
concluded by February 2015.
Debt Sponsor: SBSA
Further information on the Note issued please contact:
Mike Brunke - SBSA (Sponsor)
Tell: (011) 721 8101
Email: mike.brunke@standardbank.co.za
Date: 12/12/2014 10:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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