MWWCS

The proposed project consists of IFC supporting the establishment of a ZAR 500 million securitization program of debtor receivables originated and serviced by Merchant West, a non-Bank Financial Institution that offers asset finance, working capital, specialized finance, full maintenance leasing and treasury services. Under the proposed project, IFC would subscribe to South African Rand denominated Notes of up to ZAR250 million, issued by a newly created bankruptcy remote SPV. Merchant West will retain the subordinated tranche.