FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
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PRINCIPAL CHARACTERISTICS OF THE COMMERCIAL<br />
MORTGAGE LOANS<br />
The following is a brief overview of the principal characteristics of the Commercial Mortgage Loans. This<br />
information is subject to and is more fully explained in the other sections of this Offering Circular.<br />
Commercial Mortgage Loan Agreement<br />
– Paris <strong>Properties</strong> Borrowers<br />
Parties:<br />
Principal Amount:<br />
Initial loan to value ratio:<br />
Société Générale SA (as Lender), SCI du 7 rue<br />
d’Amiens, SCI Beaulieu <strong>Properties</strong>, SCI Annapaul,<br />
SARL Enoville, SARL Les Hauteurs du Loing,<br />
SARL Immobilière Menelas, SAS IDB Immobilier,<br />
SARL PPMPP, SCI Paris Provinces <strong>Properties</strong> (as<br />
the Borrowers) and SCI Paris Provinces <strong>Properties</strong>,<br />
SPCR SAS, SCI Beaulieu <strong>Properties</strong>, Ringmerit<br />
Limited, SARL Immobilière Menelas and Paris<br />
<strong>Properties</strong> SARL (as Parent Obligors).<br />
u292,870,973 which will be used for the purpose of<br />
refinancing a portfolio of mortgage loans, refinancing<br />
inter-company loans and paying certain expenses.<br />
70.0 per cent, based on the Valuation Report.<br />
Commercial Mortgage Loan Agreement –<br />
<strong>Proudreed</strong> France Borrowers<br />
Parties:<br />
Principal Amount:<br />
Initial loan to value ratio:<br />
Common Terms for both Commercial Mortgage<br />
Loan Agreements<br />
Interest Rate:<br />
Loan Interest Periods and Loan Interest<br />
Payment Dates:<br />
CCF (as Lender), <strong>Proudreed</strong> France SARL, SCI<br />
Dep-Immo-Comm, SCI 2PI (as the Borrowers) and<br />
Jean-Pierre Raynal, <strong>Proudreed</strong> Limited and<br />
<strong>Proudreed</strong> France SARL (as Parent Obligors).<br />
u104,529,027 which will be used for the purpose of<br />
refinancing a portfolio of mortgage loans, refinancing<br />
inter-company loans and paying certain expenses.<br />
70.0 per cent, based on the Valuation Report.<br />
The Issuer Cost of Funds, calculated on the basis of<br />
the weighted average interest rate payable on the<br />
Notes that funded the relevant Commercial Mortgage<br />
Loan after taking into account the hedging<br />
arrangements put in place by the Issuer under the<br />
Hedging Agreements.<br />
Interest will be paid quarterly on the Loan Interest<br />
Payment Dates falling on 18 February, 18 May,<br />
18 August and 18 November of each year (or if not<br />
a Business Day, the next succeeding Business Day<br />
unless such day falls in the next month, in which case<br />
it shall be the preceding Business Day). Each Loan<br />
Interest Period will commence on (and include) an<br />
Interest Payment Date and end on (but exclude) the<br />
following Interest Payment Date except that the first<br />
Loan Interest Period shall commence on (and<br />
include) the Closing Date and end on (but exclude)<br />
the Interest Payment Date falling in February 2006<br />
and the final Loan Interest Period shall commence<br />
on (and include) the Interest Payment Date falling in<br />
6