Transsec

Transsec is a ring-fenced securitisation vehicle issuing
securities under a R4 billion Asset backed note programme.

Transsec (RF) Ltd

Transsec (RF) Limited (Transsec) is a ring-fenced securitisation vehicle issuing securities under a ZAR R4 billion Asset backed note programme (the Programme). Although the Programme is not rated, Transsec issued Notes rated by the international rating agency s Global's Rating Services and listed on the Johannesburg Stock Exchange.

On 5 June 2014, Transsec used the proceeds from five classes of tranches together with a subordinated loan provided by SA Taxi Finance Holdings (Pty) Ltd to purchase ZAR 689 million portfolio of instalment sales agreements advanced to mini-bus taxi operators for the purpose of acquiring a mini-bus taxi. All the instalment sales agreements purchased by Transsec are originated under SA Taxi Development Finance’s credit policy. Transsec will purchase further portfolios of instalment sale agreements, provided that they comply with a set of specific eligibility criteria and portfolio covenants designed to preserve the credit quality of the initial asset portfolio, until 14 June 2015, at the latest.

For the avoidance of doubt, the TC Group’s duties and responsibilities shall not include tax advisory, legal, regulatory, accounting or other specialist or technical advice or services. You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.


SA Taxi

The SA Taxi Group (the Group) was founded in 1998 with its sole role being the financing of under-served black Small, Medium and Micro-sized Enterprises (SMME’s) being minibus taxi operators in South Africa. The Group has played a pivotal role in empowering black SMME’s and as at 31 March 2017, the Group provided credit, together with insurance and other allied products to 22 352 minibus taxi operators.

The SA Taxi Group is constituted, amongst others, by SA Taxi Finance Holdings (Pty) Ltd (SATFH) which fully owns SA Taxi Development Finance (Pty) Ltd (SATDF), the servicer and administrator of Transsec’s assets and liabilities, respectively. SATFH is a 98% held subsidiary of Transaction Capital Limited

As the management company, all employees of the Group are employed by SATDF. As at the end of March 2017 SATDF employed 875 employees. SA Taxi protect employs a portion of employees (as at 31 March 2017 112 staff were employed by SAT Protect; 763 staff employed by SATDF).

The Group has facilitated the creation of over 58 000 black SMMEs since it was founded in 1998. As at the end of March 2017 gross loans and advances were R7.8bn, comprising of 27 142 accounts (22 352 customers).



Programme memorandum

Document Date Download
Programme memorandum 02 June 2014 pdf-1

Applicable pricing supplements

Tranche 1
Class ISIN Stock code Size  (million) Rating Scheduled maturity Legal final maturity Download
A1

ZAG000116468

TRAA1

ZAR135

zaAAA (sf)

14 June 2017

14 June 2024

pdf-1

A2

ZAG000116476

TRAA2

ZAR266

zaAA (sf)

14 June 2019

14 June 2024

pdf-1

B

ZAG000116484

TRAB1

ZAR93

zaAA (sf)

14 June 2019

14 June 2024

pdf-1

C

ZAG000116492

TRAC1

ZAR39

zaAA (sf)

14 June 2019

14 June 2024 pdf-1

D

ZAG000116500

TRAD1

ZAR76

zaA+ (sf)

14 June 2019

14 June 2024 pdf-1
E

ZAG000116518

 TRAE1

ZAR56

NR

14 June 2019

14 June 2024 pdf-1

Credit rating

Document Date Download
S&P Global's Rating Report 03 November 2017 pdf-1
S&P Global's Rating Report 06 June 2017 pdf-1
S&P Global's Rating Report 06 June 2014 pdf-1

Reports

SENS announcements

Quick contacts

Get in touch, email us on dcm@sataxi.co.za or alternatively call us on +27 11 592 8466


General enquiries






Transsec disclaimer

The information on this website is provided for information purposes only and is subject to change. All material presented on this website (including, without limitation, trademarks, logos and the like) is under copyright to Transaction Capital Limited (“Transaction Capital”) and its direct and indirect subsidiaries (collectively “TC Group”). None of the material on this website may be altered in any way without the prior written consent of the TC Group.

This website does not include a personal recommendation and does not constitute an offer, or the solicitation of an offer for the sale or purchase of any financial product, instrument, service, investment or security. You should not deal in any financial products referred to on this website unless you understand the nature and extent of your exposure to risk and if you have any doubts, you should consult your investment advisor. Past performance is not indicative of future results.

For the avoidance of doubt, the TC Group’s duties and responsibilities shall not include tax advisory, legal, regulatory, accounting or other specialist or technical advice or services. You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.

The information available on this website is not for anyone living outside South Africa. In particular, nothing on this website is intended for anyone in the United States of America, Canada, the United Kingdom, Australia or Hong Kong or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject Transaction Capital to any registration or licensing requirement within such jurisdiction.

Neither Transaction Capital nor any member of the TC Group gives any representation, warranties or undertakings in relation to (i) the accuracy or completeness of the information on this website; (ii) the functioning of this website; (iii) the performance of any of the financial products, instruments, services, investments or security that may be referred to on this website.

The use of this website by you is entirely at your own risk. By using this website, you assume full responsibility for the risk or loss resulting from your use of this website and your reliance on any information set out on this website.



Transsec3

Transsec3 is a ring-fenced securitisation vehicle issuing
securities under a R2.5 billion Asset backed note programme.

SA Taxi and Standard Bank are proud to present a new Transsec branded Asset Backed Securities (“ABS”) transaction to the market, Transsec 3 (RF) Limited (“Transsec 3”).

Transsec 3 is a ring-fenced securitisation vehicle issuing securities under a ZAR 2.5 billion asset backed Note Programme. Transsec 3 issued Notes rated by Moody’s Investor Services and listed on the Johannesburg Stock Exchange.

For the avoidance of doubt, the TC Group’s duties and responsibilities shall not include tax advisory, legal, regulatory, accounting or other specialist or technical advice or services. You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.

SA Taxi

The SA Taxi Group (the Group) was founded in 1998 with its sole role being the financing of under-served black Small, Medium and Micro-sized Enterprises (SMME’s) being minibus taxi operators in South Africa. The Group has played a pivotal role in empowering black SMME’s and as at 31 March 2017, the Group provided credit, together with insurance and other allied products to 22 352 minibus taxi operators.

The SA Taxi Group is constituted, amongst others, by SA Taxi Finance Holdings (Pty) Ltd (SATFH) which fully owns SA Taxi Development Finance (Pty) Ltd (SATDF), the servicer and administrator of Transsec’s assets and liabilities, respectively. SATFH is a 98% held subsidiary of Transaction Capital Limited

As the management company, all employees of the Group are employed by SATDF. As at the end of March 2017 SATDF employed 875 employees. SA Taxi protect employs a portion of employees (as at 31 March 2017 112 staff were employed by SAT Protect; 763 staff employed by SATDF).

The Group has facilitated the creation of over 58 000 black SMMEs since it was founded in 1998. As at the end of March 2017 gross loans and advances were R7.8bn, comprising of 27 142 accounts (22 352 customers).



Programme memorandum

Document Date Download
Transsec 3 programme memorandum (1.3m) 27th October 2017 pdf-1

Applicable pricing supplements

Initial issue
Class ISIN Stock code Size  (million) Rating Scheduled maturity Legal final maturity Download
A1

ZAG000147844

TRA3A1

ZAR 70

P-1.za (sf)

14-Nov-18

14-Nov-18

pdf-1

A2

ZAG000147869

TRA3A2

ZAR 179

Aaa.za (sf)

14-Nov-20

14-Nov-27

pdf-1

A3

ZAG000147877

TRA3A3

ZAR 166

Aaa.za (sf)

14-Nov-22

14-Nov-27

pdf-1

B

ZAG000147851

TRA3B1

ZAR 90

Aa3.za (sf)

14-Nov-22

14-Nov-27 pdf-1

Credit rating

No credit ratings released to date

Quick contacts

Get in touch, email us on dcm@sataxi.co.za or alternatively call us on +27 11 592 8466.



Transsec 3 disclaimer

The information on this website is provided for information purposes only and is subject to change. All material presented on this website (including, without limitation, trademarks, logos and the like) is under copyright to Transaction Capital Limited (“Transaction Capital”) and its direct and indirect subsidiaries (collectively “TC Group”). None of the material on this website may be altered in any way without the prior written consent of the TC Group.

This website does not include a personal recommendation and does not constitute an offer, or the solicitation of an offer for the sale or purchase of any financial product, instrument, service, investment or security. You should not deal in any financial products referred to on this website unless you understand the nature and extent of your exposure to risk and if you have any doubts, you should consult your investment advisor. Past performance is not indicative of future results.

For the avoidance of doubt, the TC Group’s duties and responsibilities shall not include tax advisory, legal, regulatory, accounting or other specialist or technical advice or services. You are to rely on your own independent appraisal of and investigations into all matters and things contemplated by this website.

The information available on this website is not for anyone living outside South Africa. In particular, nothing on this website is intended for anyone in the United States of America, Canada, the United Kingdom, Australia or Hong Kong or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject Transaction Capital to any registration or licensing requirement within such jurisdiction.

Neither Transaction Capital nor any member of the TC Group gives any representation, warranties or undertakings in relation to (i) the accuracy or completeness of the information on this website; (ii) the functioning of this website; (iii) the performance of any of the financial products, instruments, services, investments or security that may be referred to on this website.

The use of this website by you is entirely at your own risk. By using this website, you assume full responsibility for the risk or loss resulting from your use of this website and your reliance on any information set out on this website.