Nedbank Group uses securitisation exclusively as a funding diversification tool and to add flexibility in mitigrating structural liquidity risk.
The group currently has two traditional securitisation and one secured note
programme:
Greenhouse Funding 1
Greenhouse Funding (RF) limited is a special purpose vehicle that acquires the rights, title and related security of eligible residential home loans from Nedbank Limited under a medium-term note programme and is funded through the issuance of unrated medium-term floating rate note.
Greenhouse Funding III (RF) limited is a securitisation special purpose vehicle that acquires the rights, title, interest and related security of eligible residential home loans from Nedbank Limited under a segregated series medium-term note programme. These assets are funded through the issuance of medium-term floating rate notes to investors in the South African Capital Market.
Greenhouse Funding IV (RF) limited is a special purpose vehicle that acquires the rights, title and related security of eligible residential home loans from Nedbank Limited under a medium-term note programme and is funded through the issuance of unrated medium-term floating rate note.
West Road South No3 (RF) Limited is a special purpose vehicle that acquires the rights, title, interest and related security of commercial property loans from Nedbank Limited under a medium term note programme and is funded through the issuance of medium term secured floating rate notes.