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

Titan Europe 2007-1 (NHP) Limited Collateral and Structural Term Sheet 1 st May 2007
Borrower will be required to ensure the Libra Whole Loan U/W ICR is at least 1.05x in the third year, among
other things.
– Reserve for recommended capital expenditure of £216,000 at closing.
– Reserve for recommended environmental expenditure of £100,000 at closing.
• BORROWER:
– The Borrower is a limited liability company incorporated under the laws of the Cayman Islands.
– The sponsor is a repeat client of Credit Suisse. This portfolio is the sponsor’s third investment in the UK
healthcare sector. One previous acquisition loan has been securitised in the Titan Europe 2006-4 FS plc
transaction.
• LOAN FEATURES:
– Two-year senior tranche of a Whole Loan with a one-year extension option subject to satisfaction of certain
conditions, including equal extension of separate PIK Facility Loan and no Default at original maturity of 15
January 2009. The junior tranche of the Libra Whole Loan and a £70,000,000 PIK Facility Loan are fully
subordinated.
– £534,000,000 secured, fully subordinated tranche and £70,000,000 PIK Facility Loan, secured by a first fixed
charge over the shares in the Borrower will be placed with third party investors.
– Cut-Off Date Securitised Loan U/W DSCR of 1.79x and Cut-Off Date Whole Loan U/W DSCR of 1.00x
(including the benefit of amounts on the deposit in the Cash Reserve Account).
– Maximum LTV covenant of 92.7% and minimum ICR covenant of 1.05x, each subject to certain cure rights.
– Release pricing, in the case of disposals is 115% of the relevant ALA (110% of the relevant ALA in the case of
the first 15% of aggregate portfolio value to be sold) (the "Disposal ALA Amount"). Where, in connection with
a disposal (a) the aggregate of the Disposal ALA Amount and the corresponding amount to be applied in
prepayment of the PIK Facility Loan is less than (b) 90% of the net disposal proceeds from that disposal, the
difference between (a) and (b) is required to be applied in prepayment of the Libra Whole Loan and the
PIK Facility Loan pro rata.
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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