SOUTH AFRICA - South African automation finance provider Fintech has securitised a portion of its office equipment lease portfolio, the first public securitisation of office equipment, with assets totalling R680m.
Altron, the company’s previous owner, will retain a one-third share in the business.
The restructuring has released capital for Altron to utilise and simultaneously provides institutional investors with the opportunity to invest in a fast developing asset class - asset backed finance.
Steven de Bruyn, head of debt markets at Gensec Bank, said: “Securitisation is gaining momentum fuelled by institutional demand for new investment grade debt instruments, backed by quality assets.”
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.