Merchant West Asset Finance (“MWAF”) a division of Merchant West Holdings are pleased to announce the issuance of a ZAR 500 million Note under its JSE listed lease backed receivables securitisation programme – MW Asset Rentals (RF) Limited (“MWAR”). The Note was issued on 22 February 2021 and is rated AAA(za) by GCR Ratings.

The issuance was taken up by five different institutional investors, with one investor making their first investment into the structure. This represents the largest single issuance by MWAR since the Programme was established in 2016, bringing the total Notes in issue to ZAR 1.45 billion.

MWAF is an established borrower in the local capital markets, supported by a diverse group of investors. Funding is a core input to the operational efficacy of MWAF and allows the business to continue servicing its’ clientele without disruption. The global COVID-19 pandemic continues to have a devastating human and economic impact, the business is able to leverage its positive performance track record, motivated staff and direct relationships with a growing investor base to ensure its’ continued success.

MWAF is an independent financial services provider with over two decades of experience, supplying innovative financial solutions to South African corporates, SME’s and SMMEs via its nationwide footprint. MWAF is a subsidiary of Merchant West Holding Proprietary Limited.

For more information contact our Head of Capital Markets, Matt Simpkins, MSimpkins@merchantwest.co.za

Finance