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A case study of South African commercial mortgage backed securitisation

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dc.contributor.advisor Ghyoot, V.G. (Valmond George), 1951- en Karoly, Viola en 2009-08-25T10:55:28Z 2009-08-25T10:55:28Z 2009-08-25T10:55:28Z 2006-11-30 en
dc.identifier.citation Karoly, Viola (2009) A case study of South African commercial mortgage backed securitisation, University of South Africa, Pretoria, <> en
dc.description.abstract Commercial mortgage-backed securitisation (CMBS) is an important development in the South African property finance field. This study explains the characteristics; structure and structuring; advantages, disadvantages and risks; and legal and regulatory aspects of CMBS. Four CMBS programmes have been launched in South Africa to date (August 2006) all of which have been originated by listed Property Loan Stock (PLS) companies. The unique features of the four programmes were examined and the impact on their originators and the listed property sector was analysed. The main participants in the South African CMBS industry were interviewed. CMBS has acted as a catalyst for greater competition between banks resulting in lower interest rates on bank debt and the creation of new property financing products. The introduction of CMBS has benefited not only the four originating PLS companies, but also had a positive impact on the entire listed property sector. en
dc.format.extent 1 online resource (various pagings)
dc.language.iso en en
dc.subject Single borrower en
dc.subject Case study en
dc.subject Property loan stock company (PLS) en
dc.subject South Africa en
dc.subject Securitisation en
dc.subject Commercial mortgage-backed securities (CMBS) en
dc.subject Commercial mortgage-backed securitisation en
dc.subject Structured finance en
dc.subject Property finance en
dc.subject Debt securities en
dc.subject.ddc 332.6323
dc.subject.lcsh Securities -- South Africa
dc.subject.lcsh Securities -- South Africa -- Case studies
dc.subject.lcsh Mortgage-backed securities -- South Africa
dc.subject.lcsh Mortgage-backed securities -- South Africa -- Case studies
dc.title A case study of South African commercial mortgage backed securitisation en
dc.type Dissertation en
dc.description.department Business Management en M. Com. (Business Management) en

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