Structured Finance Services in South Africa

TMF Group South Africa has a number of Structured Finance and Securitisation specialists on staff and our experienced and knowledgeable team can offer your company a wide range of support. Our team has extensive knowledge in the field of structured finance including security trustees and securitisation.

We ensure all SPVs in which we are involved are fully compliant with local legislation including the Companies Act (No. 71 of 2008), the Trust Property Control Act (No. 57 of 1988), the Income Tax Act (No. 58 of 1962) and the Financial Intelligence Centre Act (No. 38 of 2001). The South African regulatory framework is in line with that of international jurisdictions, and ensures high standards of compliance in regards to anti-money laundering and counter terrorism financing.

You will benefit from:

  • Our close working relationships with all major law firms in SA
  • Close working relationships with all major banks in SA
  • Expert lawyers and accountants on staff, who are specialists in their fields
  • Fixed fees for the  duration of the transaction to aid with planning
  • Our international group with exposure to transactions in other parts of the world

Our extensive range of services include:

Escrow Agent

TMF South Africa can provide your company with escrow agent services to facilitate the smooth completion of your transaction.  Our team currently acts as escrow agents in a number of local and cross-border matters. Our mandates include the release of cash on completion of conditions precedent, holding scrip and other assets pending the happening of events and the partial release of cash at various stages in a transaction.  We have arrangements with local and international banks for establishing escrow accounts enabling us to speed up bank KYC processes. Through our vast international network, we are also able to manage escrow agreements across numerous jurisdictions.

Our specialist lawyers and accountants are able to provide adequate oversight of the terms of commercial escrow agreements.

Issuer Companies

We provide specialist independent directors to various issuers. The responsibilities of these directors include checking the legal documentation, regular attendance at board meetings, monitoring the performance of the servicers and of the underlying assets; regular interaction with the servicers regarding market reports and communication with the various role players and the oversight of all corporate governance in these structures.

Security Vehicles

We provide specialist independent trustees and directors to security vehicles, both for securitisation structures and for various other structured finance transactions. Our duties include ensuring that security vehicles are at all times in a state of readiness to step in and take control of the security in the event of a default. In addition, we attend to the sign-off of priority payments and other ad hoc matters where required. We also provide full company secretarial and accounting services and corporate governance for these security vehicles.

Company and Trust Administration

We provide full administration for special purpose companies and trusts. This includes all corporate governance requirements as well as the preparation of annual financial statements and income tax returns. This service is offered regardless of whether we act as directors or trustees.

Trusts

Our range of trustee services includes the provision of trustees in owner trusts, through to acting as trustees in large public interest trusts, both locally and internationally. Many of our appointments have been made by the High Court of South Africa in cases of dispute between trustees and beneficiaries. Our duties include full trust administration, governance and compliance.

Offshore Structures

We are able to offer a wide variety of corporate structures tailored to meet the needs of our clients. These structures range from simple trusts and companies through trading entities to the listing of companies on foreign stock exchanges.

Accounting

We provide full accounting and taxation services for various companies and trusts. The services include but are not limited to the design and implementation of internal accounting controls, preparation of monthly management reports, maintaining monthly and annual accounting records, preparation of tax returns for all tax types and the drafting of annual financial statements in accordance with the relevant prescribed accounting standards.

Calculation Agent

TMF South Africa provides the services of Calculation Agent performing all obligations and duties undertaken in a variety of structured finance transactions. Our duties include but are not limited to the calculation of coupon due and payable; the determination of available cash, write-off amounts, cumulative deficit or profit, and payments owing and payments due; whether or not early amortisation events or other trigger events have occurred; notifying the central securities depository of the afore-going.

Paying Agent

We also provide a service of Paying Agent where we act as the agent responsible for transferring the payments owing to the various transaction creditors.

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