Penates 3

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-3 (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-3 (the “Issuer”), purchases on closing date a portfolio of Belgian prime residential mortgage loans from Dexia Bank Belgium NV/SA. Penates-3 has financed the purchase through the issuance of Class A and Class B notes. Further information can be found in the Prospectus.

	Class A		Class B	Class C
	Class A1	Class A2
Principal amount	2 250 000 000 EUR	3 195 000 000 EUR	555 000 000 EUR	60 000 000 EUR
Issue Price	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 B Notes		Reserve Fund	Nil
Margin	0.90 per cent. p.a.	1.10 per cent. p.a.	1.50 per cent. p.a.	2.00 per cent. p.a.
Interest Accrual	Act/360		Act/360	Act/360
Quarterly Payment Dates	Interest and principal will be payable quarterly in arrears on the twenty-second (22nd) 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 22 October 2010.
Principal payments	No scheduled amortisation. Full sequential amortisation of the Collateralized Notes (in order of seniority, whereby, as far as Class A Notes are concerned, prior to enforcement redemption the Class A2 Notes will be subordinated to redemption of the Class A1 Notes), with the Notes within each of the Class A1 Notes, the Class A2 Notes and the Class B ranking pari passu and being repaid pro rata and without preference among themselves, on each Quarterly Payment Date based on the Principal Available Amount.
Prepayments	Notes may be subject to voluntary and mandatory prepayment on any Quarterly Payment Date as described herein, with prepayments applied to the Collateralized Notes in sequential order starting with the most senior Class of Notes then outstanding.
Optional Redemption Date	Quarterly Payment Date falling in July 2014 (First Optional Redemption Date) and any Quarterly Payment Date thereafter		Quarterly Payment Date falling in July 2014 (First Optional Redemption Date) and any Quarterly Payment Date thereafter	Quarterly Payment Date falling in July 2014 (First Optional Redemption Date) and any Quarterly Payment Date thereafter
Denomination	250 000 EUR		250 000 EUR	250 000 EUR
Form	The Notes will be issued in the form of dematerialised notes under the Company Code and will be represented exclusively by book entries in the records of Clearing System operated by the National Bank of Belgium.
Listing	Euronext Brussels		Not listed	Not listed
Expected Rating	Fitch AAA S&P AAA		NR	NR
ISIN	BE0002394667	BE0002395672	BE6000893857	BE6000894863
Common Code	051481976	051913361	051483596	051483570

Agenda

19.12.2011 Final quarterly investor report pdf
24.10.2011 Quarterly payment date and quarterly investor report pdf
22.07.2011 Quarterly payment date and quarterly investor report pdf
26.04.2011 Quarterly payment date and quarterly investor report pdf
24.01.2011 Quarterly payment date and quarterly investor report pdf
22.10.2010 First quarterly payment date and quarterly investor report pdf

Downloads

28.06.2010 Information Memorandum Penates-3 pdf
25.06.2010 S&P Presale Report pdf
22.06.2010 Prospectus pdf
20.06.2010 Fitch Presale Report pdf

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