Penates 2

ATTENTION: Notes of Penates Funding N.V. - S.A., institutionele vennootschap voor belegging in schuldvorderingen naar Belgisch recht / société d’investisment en créances institutionnelle de droit belge, acting through its Compartment Penates-2 (Penates Funding), can only be acquired, held by and transferred to institutional investors or professional investors as described in article 5§3 of the Law of 20 July 2004 on certain types of collective management of investment portfolios, as amended or replaced (an Institutional Investor) acting for their own account.

Penates Funding will suspend the payment of dividends or interests in relation to its securities of which it becomes aware that these are held by a person who is not an Institutional Investor acting for its own account.

PENATES FUNDING N.V./S.A., acting through its compartment Penates-2 (the “Issuer”) purchases on closing date a portfolio of Belgian prime residential mortgage loans from Dexia Bank Belgium NV/SA. Penates-2 has financed the purchase through the issuance of Class A, B, C, D and E notes. Further information can be found in the Prospectus.

	Class A	Class B	Class C	Class D	Class E
Principal amount	3 384 000 000 EUR	72 000 000 EUR	72 000 000 EUR	72 000 000 EUR	36 000 000 EUR
Issue Price	100 %	100 %	100 %	100 %	100 %
Credit Enhancement (provided by other Classes of Notes subordinated to the relevant Class and Reserve Fund)	Reserve Fund and subordination of Class D Notes Class C Notes and Class B Notes	Reserve Fund and subordination of Class D Notes and Class C Notes	Reserve Fund and subordination of Class D Notes	Reserve Fund	Nil
Interest Rate	3m Euribor + 100bp	3m Euribor + 150bp	3m Euribor + 200bp	3m Euribor + 250bp	3m Euribor + 275bp
Interest Accrual	Act/360	Act/360	Act/360	Act/360	Act/360
Quarterly Payment Dates	Interest and principal will be payable quarterly in arrears on the twenty-first (21st) day of January, April, July and October of each year (or the first following Business Day if such day is not a Business Day), commencing on the Quarterly Payment Date falling on 21 April 2009.
Principal payments	No scheduled amortisation. Full sequential amortisation of the Rated Notes (in order of seniority), with the Notes within each Class ranking pari passu and being repaid pro rata and without preference among themselves, on each Quarterly Payment Date based on the Principal Available Amount.
Optional Redemption Date	21 October 2009 (First Optional Redemption Date)and any Quarterly Payment Date thereafter	21 October 2009 (First Optional Redemption Date)and any Quarterly Payment Date thereafter	21 October 2009 (First Optional Redemption Date)and any Quarterly Payment Date thereafter	21 October 2009 (First Optional Redemption Date)and any Quarterly Payment Date thereafter	21 October 2009 (First Optional Redemption Date)and any Quarterly Payment Date thereafter
Listing	Euronext Brussels	Euronext Brussels	Euronext Brussels	Euronext Brussels	/
Expected Rating	Fitch AAA	Fitch AA	Fitch A	Fitch BBB	NR
ISIN	BE0002379510	BE0002380526	BE0002381532	BE0002382548	BE0934889032
Common Code	40420142	40420169	40420282	40420614	40420622
Closing Date	15 December 2008	15 December 2008	15 December 2008	15 December 2008	15 December 2008
Final Redemption Date	21 January 2041	21 January 2041	21 January 2041	21 January 2041	21 January 2041

Agenda

17.03.2025 Test pdf
21.04.2010 Exercise of the Optional Redemption Call and redemption in full of all Notes pdf
21.01.2010 Quarterly payment date and quarterly investor report pdf
21.10.2009 Quarterly payment date and quarterly investor report pdf
21.07.2009 Quarterly payment date and quarterly investor report pdf
21.04.2009 First quarterly payment date and quarterly investor report pdf

Downloads

11.12.2008 Fitch Presale Report pdf
09.12.2008 Prospectus pdf

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Penates 2

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