Heta Funding 2018: 14 October 2018
The assets securing the notes consist primarily of a portfolio comprising the beneficial interest in the Collateral Debt Obligations and Related Security acquired pursuant to a declaration of trust under a vendor trust deed dated 11 August 2010 between the Issuer and Barclays Bank PLC as vendor trustee. The Portfolio will be managed by Barclays Bank PLC as collateral manager.
The Issuer will invest in Collateral Debt Obligations consisting of Senior Loans which will have greater credit and liquidity risk than investment grade sovereign or corporate bonds or loans. The Portfolio may include Collateral Debt Obligations which are Education Loans. Education Loans may be made to Higher Education Institutions, Further Education Institutions or Independent Schools.
Eligibility criteria (includes): its Loan ID Currency is GBP and provides for a fixed payment of principal on or prior to the maturity date of such Collateral Debt Obligation; it is an obligation of an Obligor or Obligors having its jurisdiction of incorporation in a Qualifying Country and the applicable Underlying Instrument is governed by the laws of England and Wales; it has been assigned or otherwise has (i) a Moody's Rating of at least "B3" or (ii) a Moody's Rating Factor equal to or lower than 3490; it is not a Zero Coupon Security; it is not a Synthetic Security; it is not an Asset-Backed Security; it is not a PIK Loan; it is not a Participation; it is not a DIP Loan; it is not a Bridge Loan.
EU Risk Retention: The transaction described in this Prospectus is not intended to comply with the EU Retention Requirements.
US Risk Retention: The Collateral Manager intends to rely on an exemption provided for in Section __.20 of the U.S. Risk Retention Rules regarding non-U.S. transactions that meet certain requirements.