Taurus 2021-3 DEU DAC: 15 April 2021

Basically a refinancing of loans that were previously securitised in the Taurus 2018-3 DEU DAC transaction. The largest of the loans is secured by a mixed use office and hotel property connected to Frankfurt International Airport Terminal 1, whereas the smaller loan is secured by the corresponding parking lots. On the closing date, the Issuer will acquire 100% of the interest in each of the loans.

Risk Retention: For the purposes of satisfying EU, UK, and US risk retention requirements, Bank of America Europe will advance a loan in Euro to the Issuer on the closing date. As at the closing date, the principal amount of the Issuer Loan will be equal to Eur26,990,000, being equal to not less than 5% of the sum of (i) the aggregate principal amount outstanding of the Notes; and (ii) the principal amount of the Issuer Loan, each as at the closing date.

Compare/contrast: Taurus 2018-3 DEU DAC(Redeemed), Taurus 2016-2 DEU DAC(Redeemed), European Loan Conduit No. 36 (USIL)