TUHF Urban Finance (RF) Limited, a leading financial institution incorporated in the Republic of South Africa, has released an official notification detailing the upcoming interest and principal payments scheduled for 31 July 2023. These payments are part of TUHF Urban Finance’s ZAR2,000,000,000 Mortgage Loan Backed Securitisation Programme and are set to benefit Noteholders invested in the financial instruments mentioned below.
The securitisation programme is an integral part of TUHF Urban Finance’s operations, allowing the institution to raise capital for its urban development and housing initiatives by pooling a portfolio of mortgage loans and issuing bonds or notes secured by these loans. This financial strategy not only supports the company’s objectives but also offers investors secure and reliable investment opportunities.
In the announcement, TUHF Urban Finance provided a comprehensive breakdown of the interest and principal payments due for three of its financial instruments. Let’s take a closer look at the details:
Instrument TU1A11 (ISIN: ZAG000156167)
| Description | Amount (ZAR) |
|---|---|
| Interest Rate | 10.187% |
| Interest Period | 2 May 2023 – 30 July 2023 |
| Interest Amount Due | ZAR6,787,210.43 |
| Outstanding Principal Amount before redemption | ZAR270,206,233.22 |
| Principal redemption | ZAR10,523,811.77 |
| Outstanding Principal Amount after redemption | ZAR259,682,421.45 |
| Payment Date | 31 July 2023 |
| Date Convention | Following Business Day |
Instrument TU1B11 (ISIN: ZAG000156175)
| Description | Amount (ZAR) |
|---|---|
| Interest Rate | 11.967% |
| Interest Period | 2 May 2023 – 30 July 2023 |
| Interest Amount Due | ZAR924,886.18 |
| Outstanding Principal Amount before redemption | ZAR31,343,923.05 |
| Principal redemption | ZAR1,220,762.17 |
| Outstanding Principal Amount after redemption | ZAR30,123,160.88 |
| Payment Date | 31 July 2023 |
| Date Convention | Following Business Day |
Instrument TU1D11 (ISIN: ZAG000156183)
| Description | Amount (ZAR) |
|---|---|
| Interest Rate | 12.717% |
| Interest Period | 2 May 2023 – 30 July 2023 |
| Interest Amount Due | ZAR457,534.07 |
| Outstanding Principal Amount before redemption | ZAR14,591,136.58 |
| Principal redemption | ZAR568,285.84 |
| Outstanding Principal Amount after redemption | ZAR14,022,850.74 |
| Payment Date | 31 July 2023 |
| Date Convention | Following Business Day |
These payments represent significant sums of money and will have a notable impact on the investment positions of Noteholders. Investors and stakeholders are urged to mark the payment date on their calendars and take note of the specific amounts due.
The Mortgage Loan Backed Securitisation Programme has been an effective tool for TUHF Urban Finance in raising capital for its urban development projects. The institution’s dedication to responsible financial practices and its track record of fulfilling its financial obligations have garnered trust and confidence from investors.
TUHF Urban Finance’s announcement of the interest and principal payments due for July 2023 underscores the company’s commitment to delivering on its financial promises. The Mortgage Loan Backed Securitisation Programme continues to be a vital driver in supporting urban development and housing initiatives in South Africa, making TUHF Urban Finance a key player in the country’s financial landscape.
