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

Titan Europe 2007-1 (NHP) Limited Collateral and Structural Term Sheet 1 st May 2007
III. Collateral Highlights
Loan Characteristics
Loan Name
Location / Loan
Arranger
Number of
Properties
Cut-Off Date
Securitised
Principal
Balance
Percent of
Initial Loan
Balance
Cut-Off Date Securitised Loan LTV (1) Cut-Off Date Securitised Loan U/W ICR (2) Cut-Off Date Securitised Loan U/W Subordinate DSCR (2) Cut-Off Date
Secured
Debt
Principal Balance
Cut-Off Date
Whole Loan
Principal
Balance (3) Cut-Off
Loan LTV (1) U/W ICR (2)(4) U/W DSCR (2)(4) Rate (5) Loan Maturity Date
Cut-Off Date Cut-Off Date Loan
Date Whole Whole Loan Whole Loan Interest
Libra Loan UK / Credit Suisse 297 £638,000,000 100.0% 47.7% 1.79x 1.79x £534,000,000 £1,172,000,000 87.6% 1.05x(4) 1.00x
(4) LIBOR +
0.9627%
15 January 2009 (6)
(1) 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.
(2) “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.
(3) “Whole Loan” means the relevant Securitised Principal Balance plus Secured Subordinate Debt, if any.
(4) 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.
(5) The Libra Loan and Libra Whole Loan each accrue interest at a floating rate. The floating rate on the Libra Whole Loan is hedged through an interest rate swap agreement entered into by the borrower, pursuant to which the borrower will swap a portion of the interest rate payable on the
Libra Whole Loan for LIBOR fixed on the 15 th 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).
(6) Assumes that Borrower does not exercise the one-year Libra Whole Loan extension option.
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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