Taurus 2025-2 UK DAC: 01 April 2025
The Issuer will make payments on the Notes and the Issuer Loan from payments of principal and interest received by the Issuer under loans advanced by the Loan Seller to the Borrowers pursuant to the Wildcat Facilities Agreement and the Silverburn Facility Agreement. On the Closing Date, the Issuer will acquire a 100% interest in the Wildcat Loan and a 100% interest in the Silverburn Loan.
The Loans will each be secured by, among other things, a portfolio of properties located throughout England and Scotland.
The Wildcat Property Portfolio comprises 35 assets, situated throughout the UK. The Wildcat Property Portfolio consists of a mix of industrial, London offices, retail parks and some other regional offices/mixed use assets. The Properties offer 4,990,622sqft of lettable area, which is 98.3% occupied, with 124 unique tenants.
The Silverburn Property Portfolio consists of one out-of-town shopping centre (the Silverburn Property) built in 2008 and extended in 2015, located in Glasgow, in addition to an area of land to the south of the shopping centre, which comprises bare land and a flood defence reservoir. The Silverburn Property offers 956,332 square feet across 105 retail units in addition to storage and commercialisation space, as well as c. 4,000 parking spaces.
As at the Silverburn Cut-off Date, the Silverburn Property is let to 94 unique retail tenants and is 92.7% occupied, generating £19.3m of gross rental income, with a weighted average lease term to break of 3.6 years, with 5.8 years to expiry.
UK, EU & US Risk Retention: For the purposes of satisfying UK, EU and US risk retention requirements, Bank of America Europe will, pursuant to the Issuer Loan Agreement, advance a sterling loan to the Issuer on the Closing Date. As at the Closing Date, the principal amount of the Issuer Loan will be equal to £18,805,627.40, 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 on the Closing Date.