Jubilee Place 6 B.V.: 30 April 2024

As the name indicates, this will be the sixth transaction via the Jubilee Place series (all available via www.euroabs.com).

The Issuer will make payments on the Notes and the VRR Loan in accordance with the relevant Priority of Payments from, among other things, payments of principal and interest received from a portfolio comprising the Mortgage Receivables, legal title to which will be sold and assigned by the Seller to the Issuer on the Closing Date. The Mortgage Loans will be secured over residential and mixed-use properties located in the Netherlands and were originated by Dutch Mortgage Services BV, DNL 1 BV and Community Hypotheken BV. The Portfolio was acquired by the Seller from DMS Vastgoed Finance BV, DMS CRE Finance BV, Ivy Real Estate Finance BV and Community Mortgages 1 BV.

The provisional portfolio (at 29 February 2024) comprises of 812 BTL loans (in 853 loan parts) advanced to 1,124 borrowers and secured on 1,183 properties. The average current balance is Eur368,386 and the largest is for Eur3.752mln. Borrower Type (by current balances): person – 82.49%, company – 17.51%. Redemption type: interest-only – 92.91%, repayment – 7.09%. The WA current LTV is 67.71% (original LTV was 68.28%) and the WA seasoning is 14.96 months. Regional concentration: Zuid-Holland – 26.10%, Noord-Brabant – 17.15% and Noord-Holland – 16.54%.

EU & UK Risk Retention: On the Closing Date, Citibank NA London Branch (the Retention Holder) will, as an originator, retain a material net economic interest of not less than 5% in the securitisation in accordance with Article 6 of Regulation (EU) 2017/2402. As at the Closing Date, the Risk Retention will comprise the Retention Holder holding the VRR Loan representing not less than 5% of the nominal value of each tranche sold or transferred to investors on the Closing Date.

US Risk Retention: The transaction will be subject to the credit risk retention requirements of Section 15G of the Exchange Act. The Retention Holder intends to satisfy the US Credit Risk Retention Requirements on the Closing Date by acquiring and retaining (directly or through a majority-owned affiliate) a “single vertical security”, that is an “eligible vertical interest” in the Issuer, in the form of the VRR Loan.

STS: Neither the Issuer, the Seller, the Arranger nor the Lead Manager has any intention to notify ESMA or otherwise seek designation of the securitisation, in connection with which the Notes are issued, as ‘STS’.

Compare/contrast: Jubilee Place 5, Green Storm 2024 BV, Orcinus 2023 BV