Presentation - Investor Update Meeting with Q&A ... - Hatfield Philips

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Swap Rate What was my Swap Rate? Yield Curves - Historic vs Current 6.50% 6.00% 5.50% 5.00% 4.50% 4.00% 3.50% 3.00% Yield Curve - Current Yield Curve - Historic 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Term / Years CHATHAM FINANCIAL FINANCIAL – PROPRIETARY – AND PROPRIETARY CONFIDENTIAL – AND ALL RIGHTS CONFIDENTIAL RESERVED – ALL RIGHTS RESERVED 36 36
Trading a Swap… • The bank’s trader will need to trade the opposite position in the market at the time of trade • Just as you have an obligation to make payments to the Bank, they have a similar obligation to the market • If you wish / need to exit the swap early, the bank must replace your cash flow payments <strong>with</strong> what is available in the market at the time • The bank will charge (or reimburse) you for the difference in the original Fixed rate and the rate available at the time of termination Fixed = 5.52% Fixed = 0.83% Borrower Trader Market Floating Floating Original Swap Year Trader Receives Trader Pays to from Borrower Borrower 1 5.5228% Floating 2 5.5228% Floating 3 5.5228% Floating Original Trader Hedge Trader Receives from Market Trader Pays to Market Floating 5.5228% Floating 5.5228% Floating 5.5228% Trader Receives from Market Current Market Trader Pays to Market 0.8323% Floating Difference Trader needs from Borrower 4.6904% Swap Value = PV of the annuity of (Original swap rate – Current swap rate) CHATHAM FINANCIAL FINANCIAL – PROPRIETARY – AND PROPRIETARY CONFIDENTIAL – AND ALL RIGHTS CONFIDENTIAL RESERVED – ALL RIGHTS RESERVED 37 37
Page 1 and 2: Hatfield Philips International Limi
Page 3 and 4: JER Sponda Talisman 5 Section break
Page 5 and 6: Asset Location Location: Finland Po
Page 7 and 8: Financial Overview
Page 9 and 10: Financial Overview ICR Covenant: 1.
Page 11 and 12: Cashflow Projections
Page 13 and 14: Conclusion Basis of Extension Appro
Page 15 and 16: Loan Overview Name : Arcadia Loan O
Page 17 and 18: Portfolio Overview Property Type :
Page 19 and 20: Timeframe of Special Servicer Actio
Page 21 and 22: Challenge & Wrencote Section break
Page 23 and 24: Asset Locations - Croydon, Surrey C
Page 27 and 28: Conclusion The Special Servicer has
Page 29 and 30: Conclusion The Special Servicer has
Page 31 and 32: What Chatham Financial Does • Pro
Page 33 and 34: Rate What Did Rates Do… 3-month L
Page 35: Payments under my Swap • In a Pay
Page 39 and 40: Swap Breakage…do I have to pay it
Page 41 and 42: What other hedges could I have done
Page 43 and 44: Wildmoor Northpoint Limited DECO 11
Page 45 and 46: Bransholme, Kingston-upon-Hull, Nor
Page 51 and 52: Conclusion The Special Servicer is
Page 53 and 54: Loan Overview Name : Steigenberger
Page 57 and 58: FINANCIAL OVERVIEW - RATIOS 160% 14
Page 59 and 60: Timeframe of Primary Servicer Actio
Page 61 and 62: FINANCIAL OVERVIEW - PROJECTIONS 16
Page 63 and 64: VIVACON LOAN TITAN EUROPE 2006-2 p.
Page 65 and 66: Portfolio in Nord Rhine Westphalia
Page 67 and 68: Financial Overview Vacancy developm
Page 69 and 70: Conclusions • The Asset Manager s
Page 71 and 72: QUESTIONS and ANSWERS Section break
Page 73 and 74: Questions and Answers DECO - 2006-8
Page 75 and 76: Questions and Answers Talisman 5 (c
Page 77 and 78: Questions and Answers Titan Europe
Page 79 and 80: Questions and Answers DECO - 2006 -

Presentation - Investor Update Meeting with Q&A ... - Hatfield Philips

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