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SFSF Update - Forbearance Special Purpose Vehicle

23 April 2020

The AOFM is continuing to work with the ASF to find an appropriate solution for the impacts on securitisation vehicles (specifically those sponsored by smaller lenders) of forbearance arrangements arising from COVID-19 hardship.

The Australian Securitisation Forum forwarded a draft term sheet for the Forbearance Special Purpose Vehicle (FSPV) to the AOFM on Thursday 16th April.

The AOFM has retained Clayton Utz as its legal counsel to support its work as investment manager for the SFSF, specifically with regards to the establishment of the FSPV.

The AOFM has engaged Eticore SD Services Pty Ltd as a consultant to assist with guidance on design, establishment and oversight of the FSPV. This is a direct consultancy to the AOFM and is separate to the operational roles the AOFM may be required to fill or sub-contract as part of its potential role as senior financier to the FSPV that could ensue from its role as investment manager for the SFSF.