New Issue: REC Plantation Place Ltd. Dec 06
Standard & Poors, December 2006
Abstract
Credit ratings were assigned to the £435 million commercial mortgage-backed floating-rate notes issued by REC Plantation Place Ltd. This is a secured loan transaction. The issuer used the proceeds of the note issuance to advance a loan (the A-note backing the rated classes of notes) to Mourant & Co. Trustees Ltd. and Mourant Property Trustees Ltd. (the borrowers), acting as joint trustees of One Plantation Place Unit Trust, a real estate investment fund. The advance is made under the terms of a loan agreement that governs both the rated notes and a B-note (debt held outside the issuing vehicle). The loan was structured by N M Rothschild & Sons Ltd. and is secured on a property located in the City...
Companies mentioned in this report are:
- REC Plantation Place Ltd.
- Merrill Lynch & Co. Inc.
- The Royal Bank of Scotland N.V.
- Lloyds TSB Bank PLC
- Accenture PLC
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
- REC Plantation Place Ltd.
- Merrill Lynch & Co. Inc.
- The Royal Bank of Scotland N.V.
- Lloyds TSB Bank PLC
- Accenture PLC
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