INSTITUTIONAL CAPITAL STRUCTURE
Our institutional offering started in early 2021, where we were able to cater for the investment criteria and mandates of institutional clients via a listing of a Note on the Johannesburg Stock Exchange (“JSE”).
In September 2023, the listed Note on the JSE was repaid in full. At the same time, BC Funding Solutions successfully launched a ringfenced Funding SPV, specifically for institutional asset managers and investors and secured the first round of funding.
SALIENT FEATURES OF THE INSTITUTIONAL FUNDING STRUCTURE:
R120.0m (evergreen structure allowing ongoing placement)
5 September 2023
5 years from issue date
JIBAR plus 300bps to 350bps (floating rate)
Quarterly capital and interest payments
Settled through STRATE (Notes) and via CSDP (term loan funding)