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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
       

 

 

 

 

 

 




Last Updated 05/25/2010    assetmarketing@fdic.gov

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