|
Corus
Construction Venture
LLC
|
|
Amount
Financed |
Interest
Rate |
Guaranteed
by FDIC Corporate |
Payment
Terms |
Advance
Facility |
$1,091,247,523
|
1-month
LIBOR Plus 3%
|
|
Amts
shown are commitment amounts. 100% of available cash each
month after payment of servicing expenses and certain monthly
fees is used to pay down the loans outstanding under the Advance
Facility.
|
Interim
Term Loan |
100,000,000
|
1-month
LIBOR Plus 3%
|
No
|
Revolver
used for short-term funding of construction and working captial
draws. |
Working
Capital Loan |
150,000,000
|
1-month
LIBOR Plus 3%
|
No
|
Revolver
used for Working Capital. |
Advance Loan |
591,247,523
|
1-month
LIBOR Plus 3%
|
No
|
Used for
funding loan construction draws. Not a revolver. |
Authorized
Overage Loan |
250,000,000
|
1-month
LIBOR Plus 3%
|
No
|
Used for
funding loan construction draws. Not a revolver. |
|
|
|
|
|
Purchase
Money Notes |
$1,377,351,000
|
|
|
|
Cert. A-R-1, maturing
10/25/2011 |
150,000,000
|
0.00%
|
Yes
|
100% of available cash
after payment of servicing expenses, certain monthly fees and
the balance outstanding on loans under the Advance Facility,
are deposited in to a defeasance account until all the notes
are fully defeased. |
Cert. B-R-1, maturing
10/25/2012 |
850,000,000
|
0.00%
|
Yes
|
Cert. C-R-1, maturing
10/25/2013 |
377,351,000
|
0.00%
|
Yes
|
|
|
|
|
|
|