Titan Europe 2007-1 (NHP) Limited - Irish Stock Exchange

Titan Europe 2007-1 (NHP) Limited Collateral and Structural Term Sheet 1 st May 2007
II. Transaction Overview (continued)
Collateral Overview
Loan: Cut-Off Date Securitised Principal Balance: £638,000,000
Aggregate Portfolio Value: £1,338,341,000
Loans/Properties: 1 senior tranche / 297 Properties (288 Freehold, 7 Leasehold (1) and 2
Freehold/Leasehold)
Property Use Type
(based on Annualised Base Rent):
Care Home (2) :
Staff Accommodation:
100.0%
0.0% (3)
Beds: Registered Beds: 14,796
Rooms:
Single:
Double:
92.7% (68.1% ensuite)
7.3% (3.4% ensuite)
Geographic Distribution
(based on Cut-Off Date Securitised
Principal Balance):
England: 72.1%
Scotland: 17.9%
Wales: 6.8%
Northern Ireland: 3.2%
Credit Statistics:
Securitised Debt
Total Debt
Cut-Off Date U/W ICR (4) :
Cut-Off Date U/W DSCR (4) :
Cut-Off Date LTV (6) :
Maturity LTV (7) :
1.79x
1.79x
47.7%
47.7%
1.05x (5)
1.00x (5)
87.6%
87.6%
Loan Characteristics:
Loan Seasoning (8) :
Remaining Loan Term (9) :
3 months
1.75 years
Occupancy (10) : 90.0%
Due Dates:
The Credit Agreement provides that payment of quarterly instalments of interest and principal, if
applicable, are due on the 15 th calendar day of each January, April, July and October or, if such day is
not a Business Day, then on the next succeeding Business Day in that calendar month (if there is
one) or the preceding Business Day (if there is not).
Cut-Off Date: 15 th April 2007
(1) With respect to five leasehold Properties in England, one leasehold Property in Scotland and one leasehold Property in Northern Ireland, the reversion of the lease is not held by a Borrower
Group company.
(2) Includes two parcels of adjacent land, the aggregate value of which is £250,000, as well as one property that offers mental healthcare services.
(3) Staff accommodation properties provide residential facilities for staff and represent aggregate Annualised Base Rent of £2,500.
(4) “U/W ICR” and “U/W DSCR” mean, with respect to the Securitised Loan and Whole Loan (i) U/W NOI divided by (ii) scheduled total interest (in the case of Cut-Off Date U/W ICR) or debt service
(in the case of Cut-Off Date U/W DSCR) due on the Cut-Off Date Securitised Loan or Cut-Off Date Whole Loan, respectively, for the first four quarterly payment dates after the Cut-Off Date.
For the purposes of calculations in this document, LIBOR is assumed to be 4.8130%, which is equivalent to the fixed rate payable by the Borrower under the related Swap Transactions.
(5) With respect to the Libra Whole Loan, the U/W ICR and U/W DSCR are calculated after taking into account amounts on deposit in the Cash Reserve Account in order to comply with the
minimum Interest Cover covenant of 1.05x (and resulting in a Libra Whole Loan U/W DSCR of 1.00x based on no principal repayment). Excluding the benefit of the Cash Reserve Account, the
Libra Whole Loan U/W ICR is 0.89x and the Libra Whole Loan U/W DSCR is 0.89x. For the purposes of calculations in this document, LIBOR is assumed to be 4.8130%, which is equivalent to
the fixed rate payable by the Borrower under the related Swap Transactions.
(6) Based on the Cut-Off Date Securitised Principal Balance or Cut-Off Date Whole Loan Principal Balance divided by the Value as set forth in the Valuation Report.
(7) Based on the Whole Loan or Securitised Principal Balance, respectively, at the Loan Maturity Date assuming no prepayments, divided by the Value at the Valuation Date.
(8) As of the Cut-Off Date.
(9) Assumes that Borrower does not exercise the one-year Libra Whole Loan extension option.
(10) Based on total number of rooms occupied. Based on the Occupational Leases, the occupancy is 100.0%.
NEITHER THIS DOCUMENT NOR ANY COPY HEREOF MAY BE SENT OR TAKEN OR TRANSMITTED INTO THE UNITED STATES OR CANADA OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR CANADA OR TO ANY U.S.
PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED) OR CANADIAN PERSON EXCEPT TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED. THIS DOCUMENT IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION, IS CONFIDENTIAL TO CLIENTS OF CREDIT SUISSE, AND MAY NOT BE REPRODUCED OR REDISTRIBUTED
TO ANY OTHER PERSON. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO
PURCHASE, ANY SECURITIES. ANY SUCH OFFER OF SECURITIES WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS OR OFFERING CIRCULAR PREPARED BY THE ISSUER, WHICH COULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED HEREIN, AND TO WHICH THE PROSPECTIVE PURCHASERS ARE REFERRED. IN THE EVENT OF ANY SUCH OFFERING, THIS INFORMATION SHALL BE DEEMED SUPERSEDED, AMENDED AND SUPPLEMENTED IN ITS ENTIRETY BY
SUCH PROSPECTUS OR OFFERING CIRCULAR.
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