New Issue: Lunar Funding V PLC (Series 2010-74) Jun 10
- ID: 1820247
- June 2010
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'AAA' credit rating to Lunar Funding V PLC's €6,973,509 limited recourse secured asset-backed notes series 2010-74. Lunar V is a public company with limited liability incorporated under the laws of Ireland. In our opinion, Lunar V meets our special-purpose entity bankruptcy-remoteness and segregation criteria. At closing, Lunar V issued €6,973,509 of notes at an issue price of 85.60% of the notes' par value. At the same time, Lunar V entered into a swap with The Royal Bank of Scotland PLC (RBS). It used the €5,969,324 issuance proceeds, along with an initial exchange amount of €1,115,185 paid by the swap counterparty under the swap, to pay the closing expenses and to purchase the...
Companies mentioned in this report are:
- Lunar Funding V PLC
Action: New Rating
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Research Type: Full Analysis