Daakye Pension Trust
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Founded Since 1850
Company Description
mandate
The Company is authorised to carry on the following businesses:
a) To issue debt securities backed by receivables from the GETFund Levy and/or budgetary allocations to GETFund under the GETFund Act and assigned to the Company by GETFund;
b) To acquire, by novation, the liabilities of GETFund to relevant contractors (in relation to the construction of educational infrastructure) and banks (under syndicated loan arrangements entered into by GETFund), for the purposes of settling or refinancing these obligations; and
c) To enter into such other arrangements and transactions in relation to the issuance of debt securities as may be necessary or required by GETFund.
overview of the issuer
Daakye Trust PLC is a Special Purpose Vehicle (SPV) incorporated as a public limited liability company to, among others, issue debt securities for the purpose of financing the construction of Educational Infrastructure and refinancing the GETFund Debt.
Under the management of the Corporate Manager and in accordance with the Bond Documents, the Issuer (through the Account Banks) will collect and manage the proceeds from the Bonds and the GETFund Receivables for the Contractor Payments and the Bond Repayments, respectively.