Expanding access to affordable housing is a key sustainable development goal. The award-winning Urban Ubomi I securitization is helping to achieve that in inner-city housing in Johannesburg through a series of social bonds issued in 2021 and 2022 for ZAR609 million and ZAR440 million, respectively. The bonds are securitizations based on mortgages to property developers and the first social bonds listed on the Johannesburg Stock Exchange’s Sustainability Segment. The originator, TUHF Ltd., is a specialized company that finances entrepreneurs that buy and refurbish rental properties in inner cities. To quote the JSE: “It is encouraging and inspiring to see South African businesses taking the Sustainable Development Goals (SDGs) to heart… [We] are excited to list our first Social Bonds that will enable TUHF … to drive sustainable development through the provision of affordable housing and improved access to funding for property SMMEs and entrepreneurs.”

View slides from the workshop here.

Speakers

Yohan Assous
Sector Head, Structured Finance and Securitisation, GCR Ratings

Nicholas Gunning
Senior Manager, Debt Capital Markets, Standard Bank of South Africa Ltd.

Ilona Roodt
Chief Operations Officer, TUHF Ltd.

Tebogo Moseamedi
Treasury Specialist, TUHF Ltd.

Aidan-John Rothman
Capital Markets Specialist, TUHF Ltd.

Moderator

Alison Harwood
Senior Fellow, Center for Financial Markets, Milken Institute