FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of December 2006,
PERMANENT FINANCING (NO. 2) PLC
(Translation of registrant’s name into English)
35 Great St. Helens, London EC3A 6AP, United Kingdom
(Address of principal executive offices)
PERMANENT FUNDING (NO. 1) LIMITED
(Translation of registrant’s name into English)
35 Great St. Helens, London EC3A 6AP, United Kingdom
(Address of principal executive offices)
PERMANENT MORTGAGES TRUSTEE LIMITED
(Translation of registrant’s name into English)
47 Esplanade, St. Helier, Jersey JE1 0BD, Channel Islands
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
Permanent Monthly Report
For period from 1 Dec 2006 to 31 Dec 2006
Mortgages Trust Determination Date |
| 2 Jan 2007 |
Mortgages Trust Distribution Date |
| 3 and 4 Jan 2007 |
Current Funding 1 Interest Period |
| 11 Dec 2006 to 12 Mar 2007 |
Current Funding 2 Interest Period |
| 17 Oct 2006 to 16 Jan 2007 |
Key Parties
Mortgages Trustee |
| Permanent Mortgages Trustee Limited |
Depositors |
| Permanent Funding (No. 1) Limited (Funding 1), Permanent Funding (No. 2) Limited (Funding 2) |
Seller |
| Halifax plc |
Servicer |
| Halifax plc |
Cash Manager |
| Halifax plc |
Issuing Entities |
| Permanent Financing (No. 1 through 9) PLC, Permanent Master Issuer PLC |
Security Trustee |
| The Bank of New York, London |
Note Trustee |
| The Bank of New York, London |
Mortgages Trust Summary
Principal Balance at start of period |
| £ | 43,461,242,137.62 |
|
Current Principal Balance |
| £ | 48,482,722,537.35 |
|
Opening Trust Assets |
| £ | 100.00 |
|
Total |
| £ | 48,482,722,637.35 |
|
|
|
|
| |
Number of loans in pool at start of period |
| 584,773 |
| |
Current number of loans in pool |
| 629,187 |
| |
|
|
|
| |
Funding 1 Issuer Notes outstanding (GBP) |
| £ | 29,624,411,750.00 |
|
less Cash Accumulation Ledger balance |
| £ | 2,144,404,000.00 |
|
less Funding 1 Principal Ledger balance |
| £ | 688,509,000.00 |
|
less Principal Deficiency Ledger balance |
| £ | 240,048.91 |
|
Funding 1 Share |
| £ | 26,791,258,701.09 |
|
Funding 1 Share % |
| 55.26125 | % | |
|
|
|
| |
Funding 2 Issuer Notes outstanding (GBP) |
| £ | 5,411,550,000.00 |
|
less Cash Accumulation Ledger balance |
| £ | — |
|
less Funding 2 Principal Ledger balance |
| £ | — |
|
less Principal Deficiency Ledger balance |
| £ | 97,491.12 |
|
Funding 2 Share |
| £ | 5,411,452,608.88 |
|
Funding 2 Share % |
| 11.16199 | % | |
|
|
|
| |
Seller Share |
| £ | 16,280,011,227.38 |
|
Seller Share % |
| 33.57676 | % | |
Minimum Seller Share |
| £ | 2,432,793,547.59 |
|
Minimum Seller Share % |
| 5.01786 | % | |
Distribution(s)
On a monthly basis, Mortgages Trust Revenue Receipts are allocated on a pro-rata basis between Funding 1, Funding 2 and the Seller based upon their respective shares in the Trust. Mortgages Trust Principal Receipts are allocated first on a pro-rata basis between Funding 1 and Funding 2 based upon their respective shares in the Trust, up to their respective cash accumulation requirements and then to the Seller. On a quarterly basis, Funding 1 will distribute its receipts to the issuers Permanent Financing (No. 1) PLC to Permanent Financing (No. 9) PLC inclusive, Funding 2 will distribute its receipts to Permanent Master Issuer PLC (Master Issuer) and in turn the issuers will distribute their respective receipts to the noteholders, via the paying agents and swap providers.
Mortgages Trust Distributions 3 and 4 Jan 2007(1)
Mortgages Trust Revenue Receipts |
| £ | 193,131,082.74 |
|
Mortgages Trust Principal Receipts |
| £ | 1,365,684,116.42 |
|
Total Cash received by Mortgages Trustee |
| £ | 1,558,815,199.16 |
|
|
| Revenue distribution |
| |
Amounts due to the Servicer |
| £ | 1,866,222.38 |
|
Other amounts due |
| — |
| |
Paid to Permanent Funding (No. 1) Limited |
| £ | 120,537,354.05 |
|
Paid to Permanent Funding (No. 2) Limited |
| £ | 23,791,608.69 |
|
Paid to the Seller |
| £ | 46,935,897.62 |
|
|
| £ | 193,131,082.74 |
|
|
| Principal distribution |
| |
Paid to Permanent Funding (No. 1) Limited |
| £ | 687,115,558.30 |
|
Paid to Permanent Funding (No. 2) Limited |
| £ | — |
|
Paid to the Seller |
| £ | 678,568,558.12 |
|
|
| £ | 1,365,684,116.42 |
|
(1) Two distributions due to the Mortgages Trustee acquiring new loans from the Seller, as detailed in ‘Substituted assets’, and the Seller increasing its share in the trust.
Distribution to Master Issuer noteholders 15 Dec 2006
A distribution was made to the holders of the Issue 2006-1 series 1 class A notes by Citibank, N.A., as principal paying agent, on behalf of the Master Issuer. Citibank, N.A. was paid, on behalf of the Master Issuer, by Deutsche Bank AG, as series 1 class A currency swap provider.
Details of the Master Issuer’s quarterly distribution will be added to the report once the first distribution has occurred.
Mortgages Trust Pool Assets Analysis
A very small number of loans were repurchased from the Trust by the Seller during the period, for being in breach of the representations and warranties under the Mortgage Sale Agreement.
Current HVR1 rate |
| 7.00 | % |
Current HVR2 rate |
| 6.25 | % |
Current Flexible Variable rate |
| 6.15 | % |
Yield net of Funding Swaps over 3 Month Sterling LIBOR |
| 0.54614 | % |
Arrears & Possessions
Months in arrears |
| Aggregate outstanding |
| % of Total |
| Aggregate amount of |
| Number of |
| % of Total |
| ||
Current - < 1 month |
| £ | 47,445,892,789.31 |
| 97.86 | % | £ | 2,378,937.00 |
| 618,083 |
| 98.24 | % |
1 - < 2 months |
| £ | 463,210,363.13 |
| 0.96 | % | £ | 3,603,844.65 |
| 5,138 |
| 0.82 | % |
2 - < 3 months |
| £ | 151,249,768.79 |
| 0.31 | % | £ | 2,286,516.81 |
| 1,678 |
| 0.27 | % |
3 - < 6 months |
| £ | 217,181,379.81 |
| 0.45 | % | £ | 5,689,527.66 |
| 2,256 |
| 0.36 | % |
6 - < 12 months |
| £ | 149,064,273.65 |
| 0.31 | % | £ | 7,558,796.98 |
| 1,521 |
| 0.24 | % |
>= 12 months |
| £ | 56,123,962.66 |
| 0.12 | % | £ | 5,143,599.16 |
| 511 |
| 0.08 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | £ | 26,661,222.26 |
| 629,187 |
| 100.00 | % |
Properties in possession |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
Brought forward |
| £ | 18,012,819.99 |
| 0.04 | % | 155 |
| 0.02 | % |
Repossessed |
|
|
|
|
| 35 |
| 0.01 | % | |
Sold |
|
|
|
|
| 33 |
| 0.01 | % | |
Relinquished |
|
|
|
|
| 1 |
| 0.00 | % | |
Carried forward |
| £ | 16,888,820.52 |
| 0.03 | % | 156 |
| 0.02 | % |
Average time from possession to sale in days (this period) |
| 101 |
|
A loan is identified as being in arrears where an amount equal to or greater than a full month’s contractual payment is outstanding at the end of the month. A loan is not defined as defaulted until the property relating to that loan has been taken into possession. A loan is not charged off as uncollectable until the property relating to that loan has been disposed of following default.
Substituted assets
Period |
| Balance of accounts |
| Number of |
| |
This period |
| £ | 6,373,073,080.31 |
| 60,773 |
|
CPR
Month |
| Monthly |
| 1-month |
| 3-month |
| 12-month |
|
December 2006 |
| 3.14 | % | 31.83 | % | 36.79 | % | 33.22 | % |
November 2006 |
| 4.69 | % | 43.83 | % | 36.88 | % | 33.56 | % |
October 2006 |
| 3.49 | % | 34.70 | % | 35.63 | % | 32.84 | % |
1-month annualised CPR is calculated as 1 - ( (1-R) ^ 12 )
3-month annualised CPR is calculated as the average of the 1-month annualised CPR for the most recent 3 months.
12-month annualised CPR is calculated as the average of the 1-month annualised CPR for the most recent 12 months.
where in each case R is ‘Monthly CPR’ or total principal receipts received plus the principal balance of loans repurchased by the Seller (primarily due to further advances) during the period, divided by the aggregate principal balance of the loans in the portfolio as at the start of the period.
Excess spread
Month |
| Excess spread |
|
December 2006 |
| 0.27590 | % |
November 2006 |
| 0.31735 | % |
October 2006 |
| 0.30522 | % |
Excess spread is calculated by deducting actual and estimated costs, including the weighted average margin on the notes, from the yield above.
2
Range of outstanding |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
£0 - £24,999.99 |
| £ | 1,433,844,810.14 |
| 2.96 | % | 102,925 |
| 16.36 | % |
£25,000 - £49,999.99 |
| £ | 5,664,744,806.37 |
| 11.68 | % | 152,063 |
| 24.17 | % |
£50,000 - £74,999.99 |
| £ | 7,488,273,283.85 |
| 15.45 | % | 120,849 |
| 19.21 | % |
£75,000 - £99,999.99 |
| £ | 7,748,469,362.91 |
| 15.98 | % | 89,380 |
| 14.21 | % |
£100,000 - £124,999.99 |
| £ | 6,665,705,723.22 |
| 13.75 | % | 59,668 |
| 9.48 | % |
£125,000 - £149,999.99 |
| £ | 5,236,703,465.72 |
| 10.80 | % | 38,370 |
| 6.10 | % |
£150,000 - £174,999.99 |
| £ | 3,657,206,502.78 |
| 7.54 | % | 22,688 |
| 3.61 | % |
£175,000 - £199,999.99 |
| £ | 2,573,753,869.55 |
| 5.31 | % | 13,816 |
| 2.20 | % |
£200,000 - £224,999.99 |
| £ | 1,920,424,744.16 |
| 3.96 | % | 9,089 |
| 1.44 | % |
£225,000 - £249,999.99 |
| £ | 1,382,110,819.07 |
| 2.85 | % | 5,846 |
| 0.93 | % |
£250,000 - £299,999.99 |
| £ | 1,765,176,111.20 |
| 3.64 | % | 6,513 |
| 1.04 | % |
£300,000 - £349,999.99 |
| £ | 1,163,462,364.14 |
| 2.40 | % | 3,623 |
| 0.58 | % |
£350,000 - £399,999.99 |
| £ | 750,950,851.83 |
| 1.55 | % | 2,021 |
| 0.32 | % |
£400,000 - £449,999.99 |
| £ | 600,557,368.93 |
| 1.24 | % | 1,425 |
| 0.23 | % |
£450,000 - £500,000 |
| £ | 420,139,570.60 |
| 0.87 | % | 891 |
| 0.14 | % |
>£500,000 |
| £ | 11,198,882.88 |
| 0.02 | % | 20 |
| 0.00 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
The weighted average current balance is: |
| £ | 128,960.41 |
|
Range of LTV ratios at |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
0% - 24.99% |
| £ | 2,204,275,922.76 |
| 4.55 | % | 68,761 |
| 10.93 | % |
25% - 49.99% |
| £ | 12,165,543,002.51 |
| 25.09 | % | 205,117 |
| 32.60 | % |
50% - 74.99% |
| £ | 19,739,393,895.40 |
| 40.71 | % | 211,262 |
| 33.58 | % |
75% - 79.99% |
| £ | 3,223,821,549.29 |
| 6.65 | % | 29,632 |
| 4.71 | % |
80% - 84.99% |
| £ | 2,442,689,859.43 |
| 5.04 | % | 23,058 |
| 3.66 | % |
85% - 89.99% |
| £ | 3,108,190,558.23 |
| 6.41 | % | 29,023 |
| 4.61 | % |
90% - 94.99% |
| £ | 3,275,949,123.22 |
| 6.76 | % | 33,409 |
| 5.31 | % |
95% - 96.99% |
| £ | 1,621,407,309.94 |
| 3.34 | % | 19,664 |
| 3.13 | % |
97% |
| £ | 699,414,039.81 |
| 1.44 | % | 9,243 |
| 1.47 | % |
>97% |
| £ | 2,037,276.76 |
| 0.00 | % | 18 |
| 0.00 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
*excluding capitalised interest, capitalised high LTV fees, insurance fees, booking fees and valuation fees.
The weighted average LTV at origination is: | 61.16 | % |
Range of LTV ratios at end |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
|
| |
0% - 24.99% |
| £ | 4,955,440,311.02 |
| 10.22 | % | 166,150 |
| 26.41 | % |
|
25% - 49.99% |
| £ | 16,461,626,232.21 |
| 33.95 | % | 237,906 |
| 37.81 | % |
|
50% - 74.99% |
| £ | 18,735,555,465.71 |
| 38.64 | % | 162,534 |
| 25.83 | % |
|
75% - 79.99% |
| £ | 2,593,243,694.65 |
| 5.35 | % | 19,920 |
| 3.17 | % |
|
80% - 84.99% |
| £ | 2,800,086,281.06 |
| 5.78 | % | 20,361 |
| 3.24 | % |
|
85% - 89.99% |
| £ | 2,065,144,219.13 |
| 4.26 | % | 15,177 |
| 2.41 | % |
|
90% - 94.99% |
| £ | 675,935,284.86 |
| 1.39 | % | 5,493 |
| 0.87 | % |
|
95% - 96.99% |
| £ | 122,369,592.60 |
| 0.25 | % | 1,030 |
| 0.16 | % |
|
97% - 99.99% |
| £ | 72,027,363.02 |
| 0.15 | % | 605 |
| 0.10 | % |
|
>=100% |
| £ | 1,294,093.09 |
| 0.00 | % | 11 |
| 0.00 | % |
|
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
|
*including capitalised interest, capitalised high LTV fees, insurance fees, booking fees and valuation fees and using indexed valuation.
The weighted average current LTV is: |
| 53.79 | % |
Region |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
London & South East |
| £ | 14,408,251,797.58 |
| 29.72 | % | 125,872 |
| 20.01 | % |
Midlands & East Anglia |
| £ | 10,686,037,258.11 |
| 22.04 | % | 137,757 |
| 21.89 | % |
North |
| £ | 6,592,631,086.42 |
| 13.60 | % | 114,344 |
| 18.17 | % |
North West |
| £ | 5,758,828,881.35 |
| 11.88 | % | 92,976 |
| 14.78 | % |
South Wales & West |
| £ | 7,025,172,926.14 |
| 14.49 | % | 89,320 |
| 14.20 | % |
Scotland |
| £ | 3,961,131,151.41 |
| 8.17 | % | 68,491 |
| 10.89 | % |
Unknown |
| £ | 50,669,436.34 |
| 0.10 | % | 427 |
| 0.07 | % |
Total |
| £48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % | |
Age of loans in months |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
< 6 |
| £ | 1,444,731,447.19 |
| 2.98 | % | 12,187 |
| 1.94 | % |
6 - <12 |
| £ | 6,777,776,768.55 |
| 13.98 | % | 61,368 |
| 9.75 | % |
12 - <18 |
| £ | 6,858,645,507.07 |
| 14.15 | % | 62,722 |
| 9.97 | % |
18 - <24 |
| £ | 5,091,199,707.12 |
| 10.50 | % | 56,274 |
| 8.94 | % |
24 - <30 |
| £ | 6,287,607,701.60 |
| 12.97 | % | 69,137 |
| 10.99 | % |
30 - <36 |
| £ | 4,017,249,418.80 |
| 8.29 | % | 48,862 |
| 7.77 | % |
36 - <42 |
| £ | 3,972,101,679.49 |
| 8.19 | % | 48,731 |
| 7.75 | % |
42 - <48 |
| £ | 2,639,125,318.75 |
| 5.44 | % | 37,231 |
| 5.92 | % |
48 - <54 |
| £ | 2,443,509,329.42 |
| 5.04 | % | 36,904 |
| 5.87 | % |
54 - <60 |
| £ | 1,793,131,566.77 |
| 3.70 | % | 30,757 |
| 4.89 | % |
60 - <66 |
| £ | 1,435,008,348.41 |
| 2.96 | % | 27,710 |
| 4.40 | % |
66 - <72 |
| £ | 826,695,468.66 |
| 1.71 | % | 17,523 |
| 2.79 | % |
>=72 |
| £ | 4,895,940,275.52 |
| 10.10 | % | 119,781 |
| 19.04 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
The weighted average seasoning of the loans, in months, is: |
| 35.23 |
|
Years to maturity of loans |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
< 5 |
| £ | 1,004,811,498.64 |
| 2.07 | % | 37,472 |
| 5.96 | % |
5 - <10 |
| £ | 4,212,220,676.19 |
| 8.69 | % | 89,969 |
| 14.30 | % |
10 - <15 |
| £ | 6,733,391,357.35 |
| 13.89 | % | 107,202 |
| 17.04 | % |
15 - <20 |
| £ | 11,807,320,417.10 |
| 24.35 | % | 154,246 |
| 24.52 | % |
20 - <25 |
| £ | 21,325,920,133.67 |
| 43.99 | % | 206,039 |
| 32.75 | % |
25 - <30 |
| £ | 2,913,263,990.74 |
| 6.01 | % | 26,781 |
| 4.26 | % |
30 - <35 |
| £ | 483,613,703.43 |
| 1.00 | % | 7,454 |
| 1.18 | % |
>=35 |
| £ | 2,180,760.23 |
| 0.00 | % | 24 |
| 0.00 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
The weighted average remaining term of the loans, in years, is: | 18.74 |
|
Use of proceeds |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
Purchase |
| £ | 30,358,364,546.30 |
| 62.62 | % | 403,360 |
| 64.11 | % |
Remortgage |
| £ | 18,124,357,991.05 |
| 37.38 | % | 225,827 |
| 35.89 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
Property type |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
|
| |
Detached |
| £ | 14,487,246,482.67 |
| 29.88 | % | 148,365 |
| 23.58 | % |
|
Semi-detached |
| £ | 14,317,050,415.38 |
| 29.53 | % | 208,218 |
| 33.09 | % |
|
Terraced |
| £ | 13,582,951,595.28 |
| 28.02 | % | 200,241 |
| 31.83 | % |
|
Other* |
| £ | 6,095,474,044.02 |
| 12.57 | % | 72,363 |
| 11.50 | % |
|
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
|
*Primarily flats or maisonettes
Origination channel |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
Direct origination by Halifax |
| £ | 20,352,455,416.84 |
| 41.98 | % | 307,835 |
| 48.93 | % |
Intermediaries |
| £ | 28,021,944,467.30 |
| 57.80 | % | 318,947 |
| 50.69 | % |
Other channels |
| £ | 108,322,653.21 |
| 0.22 | % | 2,405 |
| 0.38 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
Repayment terms |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
|
| |
Repayment |
| £ | 29,800,363,264.40 |
| 61.47 | % | 434,274 |
| 69.02 | % |
|
Interest-only |
| £ | 18,682,359,272.95 |
| 38.53 | % | 194,913 |
| 30.98 | % |
|
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
|
Payment method |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
Direct debit |
| £ | 36,314,458,197.02 |
| 74.90 | % | 438,410 |
| 69.68 | % |
Halifax payment plan |
| £ | 10,271,197,163.65 |
| 21.19 | % | 155,840 |
| 24.77 | % |
Other |
| £ | 1,897,067,176.68 |
| 3.91 | % | 34,937 |
| 5.55 | % |
Total |
| £ | 48,482,722,537.35 |
| 100.00 | % | 629,187 |
| 100.00 | % |
3
Special rate and flexible loans
Type of loan |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
Discounted variable rate loans |
| £ | 24,145,798.27 |
| 0.06 | % | 248 |
| 0.04 | % |
Fixed rate loans |
| £ | 25,677,441,569.17 |
| 59.63 | % | 298,784 |
| 53.43 | % |
Capped rate loans |
| £ | — |
| 0.00 | % | — |
| 0.00 | % |
Tracker rate loans |
| £ | 17,276,464,347.72 |
| 40.12 | % | 259,154 |
| 46.35 | % |
Flexible loans |
| £ | 82,856,703.06 |
| 0.19 | % | 998 |
| 0.18 | % |
Total Special rate and flexible |
| £ | 43,060,908,418.22 |
| 100.00 | % | 559,184 |
| 100.00 | % |
Distribution of fixed rate loans
Fixed rate % |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
0 - 3.99% |
| £ | 173,252,644.29 |
| 0.67 | % | 7,928 |
| 2.65 | % |
4.00 - 4.99% |
| £ | 15,583,454,191.49 |
| 60.69 | % | 142,988 |
| 47.86 | % |
5.00 - 5.99% |
| £ | 9,457,822,848.22 |
| 36.83 | % | 137,672 |
| 46.08 | % |
6.00 - 6.99% |
| £ | 461,515,719.99 |
| 1.80 | % | 10,146 |
| 3.40 | % |
7.00 - 7.99% |
| £ | 1,262,898.39 |
| 0.00 | % | 46 |
| 0.02 | % |
8.00 - 8.99% |
| £ | 133,266.79 |
| 0.00 | % | 4 |
| 0.00 | % |
Total |
| £ | 25,677,441,569.17 |
| 100.00 | % | 298,784 |
| 100.00 | % |
Year in which current |
| Aggregate outstanding |
| % of Total |
| Number of |
| % of Total |
| |
2006 |
| £ | 799,618,255.49 |
| 3.11 | % | 9,024 |
| 3.02 | % |
2007 |
| £ | 8,495,860,709.66 |
| 33.09 | % | 89,065 |
| 29.81 | % |
2008 |
| £ | 10,416,779,800.62 |
| 40.57 | % | 104,206 |
| 34.88 | % |
2009 |
| £ | 1,861,922,333.45 |
| 7.25 | % | 25,339 |
| 8.48 | % |
2010 |
| £ | 1,564,059,456.46 |
| 6.09 | % | 25,650 |
| 8.58 | % |
2011 |
| £ | 1,794,086,467.76 |
| 6.99 | % | 27,261 |
| 9.12 | % |
2012 |
| £ | 50,320,135.26 |
| 0.20 | % | 876 |
| 0.29 | % |
2013 |
| £ | 87,206,649.15 |
| 0.34 | % | 1,251 |
| 0.42 | % |
2014 |
| £ | 333,899,941.78 |
| 1.30 | % | 4,391 |
| 1.47 | % |
2015 |
| £ | 166,024,635.22 |
| 0.65 | % | 3,854 |
| 1.29 | % |
2016 |
| £ | 107,663,184.32 |
| 0.42 | % | 7,867 |
| 2.63 | % |
Total |
| £ | 25,677,441,569.17 |
| 100.00 | % | 298,784 |
| 100.00 | % |
*An account may have more than one product holding.
Ledgers
Funding 1 Share / Funding 2 Share / Seller Share Ledger
Date |
| Collateral pool balance |
| Funding 1 Share |
| Funding 2 Share |
| Seller Share |
| Funding 1 |
| Funding 2 |
| Seller |
|
| ||||
29-Dec-06 |
| £ | 48,475,852,377.15 |
| £ | 26,791,260,168.54 |
| £ | 5,411,452,905.29 |
| £ | 16,273,139,303.32 |
| 55.2691 | % | 11.1636 | % | 33.5674 | % |
|
01-Dec-06 |
| £ | 43,461,242,137.62 |
| £ | 27,478,614,308.30 |
| £ | 5,411,499,890.35 |
| £ | 10,571,127,938.97 |
| 63.2281 | % | 12.4518 | % | 24.3201 | % |
|
01-Nov-06 |
| £ | 45,594,365,767.58 |
| £ | 27,652,457,525.84 |
| £ | 5,411,545,286.08 |
| £ | 12,530,362,955.66 |
| 60.6516 | % | 11.8694 | % | 27.4790 | % |
|
Revenue Ledger
Month |
| Revenue receipts on |
| GIC interest |
| Total |
| |||
December 2006 |
| £ | 187,885,536.85 |
| £ | 5,245,545.89 |
| £ | 193,131,082.74 |
|
November 2006 |
| £ | 189,408,488.27 |
| £ | 5,723,385.41 |
| £ | 195,131,873.68 |
|
October 2006 |
| £ | 183,272,493.48 |
| £ | 2,281,178.66 |
| £ | 185,553,672.14 |
|
Distribution
Month |
| Servicer |
| Other amounts per |
| Funding 1 |
| Funding 2 |
| Seller |
| |||||
December 2006 |
| £ | 1,866,222.38 |
| £ | — |
| £ | 120,537,354.05 |
| £ | 23,791,608.69 |
| £ | 46,935,897.62 |
|
November 2006 |
| £ | 1,873,741.06 |
| £ | 150.00 |
| £ | 118,197,042.53 |
| £ | 23,131,000.94 |
| £ | 51,929,939.15 |
|
October 2006 |
| £ | 1,799,278.12 |
| £ | — |
| £ | 113,998,265.07 |
| £ | 19,649,202.65 |
| £ | 50,106,926.30 |
|
Principal Ledger
Month |
| Principal receipts on the |
| Principal for Further |
| Total |
| |||
December 2006 |
| £ | 917,891,075.25 |
| £ | 447,793,041.17 |
| £ | 1,365,684,116.42 |
|
November 2006 |
| £ | 1,677,545,448.71 |
| £ | 462,408,951.78 |
| £ | 2,139,954,400.49 |
|
October 2006 |
| £ | 962,375,915.71 |
| £ | 365,832,328.15 |
| £ | 1,328,208,243.86 |
|
Distribution
Month |
| Funding 1 |
| Funding 2 |
| Seller |
| |||
December 2006 |
| £ | 687,115,558.30 |
| £ | — |
| £ | 678,568,558.12 |
|
November 2006 |
| £ | 173,611,250.00 |
| £ | — |
| £ | 1,966,343,150.49 |
|
October 2006 |
| £ | 895,830,257.63 |
| £ | — |
| £ | 432,377,986.23 |
|
4
Losses Ledger
Month |
| Losses in month |
| Funding 1 share of |
| Funding 2 share of |
| Seller share of losses |
| Cumulative losses |
| |||||
December 2006 |
| £ | 379,989.95 |
| £ | 240,048.91 |
| £ | 47,281.47 |
| £ | 92,659.57 |
| £ | 3,465,374.61 |
|
November 2006 |
| £ | 382,459.25 |
| £ | 231,967.54 |
| £ | 45,395.73 |
| £ | 105,095.98 |
| £ | 3,085,384.66 |
|
October 2006 |
| £ | 293,923.28 |
| £ | 214,357.22 |
| £ | 4,813.92 |
| £ | 74,752.14 |
| £ | 2,702,925.41 |
|
Funding 1 Principal Deficiency Ledger (BBB sub-ledger)
Month |
| Debit |
| Credit |
| Balance |
| |||
December 2006 |
| £ | 240,048.91 |
| £ | 713,875.79 |
| £ | 240,048.91 |
|
November 2006 |
| £ | 231,967.54 |
| £ | — |
| £ | 713,875.79 |
|
October 2006 |
| £ | 214,357.22 |
| £ | — |
| £ | 481,908.25 |
|
Funding 1 Reserve Ledger
Month |
| Debit |
| Credit |
| Balance |
| Funding 1 Reserve |
| ||||
December 2006 |
| £ | — |
| £ | — |
| £ | 545,000,000.00 |
| £ | 545,000,000.00 |
|
November 2006 |
| £ | — |
| £ | — |
| £ | 545,000,000.00 |
| £ | 545,000,000.00 |
|
October 2006 |
| £ | — |
| £ | — |
| £ | 545,000,000.00 |
| £ | 545,000,000.00 |
|
Funding 1 Liquidity Reserve Ledger
Month |
| Debit |
| Credit |
| Balance drawn |
| Balance available |
| ||||
December 2006 |
| £ | — |
| £ | — |
| £ | — |
| £ | 150,000,000.00 |
|
November 2006 |
| £ | — |
| £ | — |
| £ | — |
| £ | 150,000,000.00 |
|
October 2006 |
| £ | — |
| £ | — |
| £ | — |
| £ | 150,000,000.00 |
|
Funding 2 Principal Deficiency Ledger (BB sub-ledger)
Month |
| Debit |
| Credit |
| Balance |
| |||
December 2006 |
| £ | 47,281.47 |
| £ | — |
| £ | 97,491.12 |
|
November 2006 |
| £ | 45,395.73 |
| £ | — |
| £ | 50,209.65 |
|
October 2006 |
| £ | 4,813.92 |
| £ | — |
| £ | 4,813.92 |
|
Funding 2 Reserve Ledger
Month |
| Debit |
| Credit |
| Balance |
| Funding 2 Reserve |
| ||||
December 2006 |
| £ | — |
| £ | — |
| £ | 92,000,000.00 |
| £ | 92,000,000.00 |
|
November 2006 |
| £ | — |
| £ | — |
| £ | 92,000,000.00 |
| £ | 92,000,000.00 |
|
October 2006 |
| £ | — |
| £ | 92,000,000.00 |
| £ | 92,000,000.00 |
| £ | 92,000,000.00 |
|
Trigger events
Non-asset trigger events:
If the Seller suffers an Insolvency Event.
If the role of the Seller as Servicer is terminated and a new Servicer is not appointed within 30 days.
If the current Seller’s Share at any time is equal to or less than the Minimum Seller Share.
If the outstanding principal balance of the loans comprising the trust property is less than £33,000,000,000 to July 2009 or is less than £32,000,000,000 to April 2010.
Asset trigger events:
If there has been a debit to the relevant AAA Principal Deficiency Sub-Ledger.
No trigger events have occurred
Notes outstanding
Issuing entity* |
| Notes |
| Original rating |
| Expected |
| Final maturity |
| Outstanding at start |
| Outstanding at end |
| Reference |
| Margin |
| ||
Permanent Financing No.1 |
| Series 4 Class A1 |
| AAA / Aaa / AAA |
| 11/Jun/2007 |
| 10/Jun/2009 |
| € | 750,000,000 |
| € | 750,000,000 |
| — |
| 5.100 | % |
Permanent Financing No.1 |
| Series 4 Class A2 |
| AAA / Aaa / AAA |
| 10/Sep/2007 |
| 10/Jun/2042 |
| £ | 1,000,000,000 |
| £ | 1,000,000,000 |
| 5.27375 | % | 0.180 | % |
Permanent Financing No.1 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Dec/2007 |
| 10/Jun/2042 |
| £ | 52,000,000 |
| £ | 52,000,000 |
| 5.27375 | % | 0.300 | % |
Permanent Financing No.1 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 10/Dec/2007 |
| 10/Jun/2042 |
| £ | 52,000,000 |
| £ | 52,000,000 |
| 5.27375 | % | 1.200 | % |
Permanent Financing No.2 |
| Series 4 Class A |
| AAA / Aaa / AAA |
| 10/Dec/2007 |
| 10/Dec/2009 |
| $ | 1,750,000,000 |
| $ | 1,750,000,000 |
| 5.35313 | % | 0.220 | % |
Permanent Financing No.2 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Dec/2007 |
| 10/Jun/2042 |
| € | 56,500,000 |
| € | 56,500,000 |
| 3.66200 | % | 0.450 | % |
Permanent Financing No.2 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 10/Dec/2007 |
| 10/Jun/2042 |
| € | 56,500,000 |
| € | 56,500,000 |
| 3.66200 | % | 1.450 | % |
Permanent Financing No.2 |
| Series 5 Class A |
| AAA / Aaa / AAA |
| 10/Dec/2008 |
| 10/Jun/2042 |
| £ | 750,000,000 |
| £ | 750,000,000 |
| 5.27375 | % | 0.250 | % |
Permanent Financing No.2 |
| Series 5 Class B |
| AA / Aa3 / AA |
| 10/Dec/2008 |
| 10/Jun/2042 |
| £ | 26,000,000 |
| £ | 26,000,000 |
| 5.27375 | % | 0.450 | % |
Permanent Financing No.2 |
| Series 5 Class C |
| BBB / Baa2 / BBB |
| 10/Dec/2008 |
| 10/Jun/2042 |
| £ | 26,000,000 |
| £ | 26,000,000 |
| 5.27375 | % | 1.450 | % |
Permanent Financing No.3 |
| Series 3 Class A |
| AAA / Aaa / AAA |
| 10/Jun/2008 & |
| 12/Sep/2033 |
| $ | 1,500,000,000 |
| $ | 1,500,000,000 |
| 5.35313 | % | 0.180 | % |
Permanent Financing No.3 |
| Series 3 Class B |
| AA / Aa3 / AA |
| 10/Sep/2008 |
| 10/Jun/2042 |
| $ | 52,000,000 |
| $ | 52,000,000 |
| 5.35313 | % | 0.350 | % |
Permanent Financing No.3 |
| Series 3 Class C |
| BBB / Baa2 / BBB |
| 10/Sep/2008 |
| 10/Jun/2042 |
| $ | 52,000,000 |
| $ | 52,000,000 |
| 5.35313 | % | 1.150 | % |
Permanent Financing No.3 |
| Series 4 Class A1 |
| AAA / Aaa / AAA |
| 10/Mar/2009 & |
| 12/Sep/2033 |
| € | 700,000,000 |
| € | 700,000,000 |
| 3.66200 | % | 0.190 | % |
5
Permanent Financing No.3 |
| Series 4 Class A2 |
| AAA / Aaa / AAA |
| 10/Mar/2009 & 10/Jun/2009 |
| 12/Sep/2033 |
| £ | 750,000,000 |
| £ | 750,000,000 |
| 5.27375 | % | 0.190 | % |
Permanent Financing No.3 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Jun/2009 |
| 10/Jun/2042 |
| € | 62,000,000 |
| € | 62,000,000 |
| 3.66200 | % | 0.390 | % |
Permanent Financing No.3 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 10/Jun/2009 |
| 10/Jun/2042 |
| € | 62,000,000 |
| € | 62,000,000 |
| 3.66200 | % | 1.180 | % |
Permanent Financing No.3 |
| Series 5 Class A |
| AAA / Aaa / AAA |
| 10/Dec/2010 |
| 10/Jun/2042 |
| £ | 400,000,000 |
| £ | 400,000,000 |
| — |
| 5.521 | % |
Permanent Financing No.3 |
| Series 5 Class B |
| AA / Aa3 / AA |
| 10/Dec/2010 |
| 10/Jun/2042 |
| € | 20,000,000 |
| € | 20,000,000 |
| 3.66200 | % | 0.450 | % |
Permanent Financing No.3 |
| Series 5 Class C |
| BBB / Baa2 / BBB |
| 10/Dec/2010 |
| 10/Jun/2042 |
| € | 20,000,000 |
| € | 20,000,000 |
| 3.66200 | % | 1.230 | % |
Permanent Financing No.4 |
| Series 2 Class A |
| AAA / Aaa / AAA |
| 12/Mar/2007 |
| 10/Mar/2009 |
| $ | 2,400,000,000 |
| $ | 2,400,000,000 |
| 5.35313 | % | 0.070 | % |
Permanent Financing No.4 |
| Series 2 Class B |
| AA / Aa3 / AA |
| 12/Mar/2007 |
| 10/Jun/2042 |
| $ | 100,700,000 |
| $ | 100,700,000 |
| 5.35313 | % | 0.180 | % |
Permanent Financing No.4 |
| Series 2 Class M |
| A / A2 / A |
| 12/Mar/2007 |
| 10/Jun/2042 |
| $ | 59,900,000 |
| $ | 59,900,000 |
| 5.35313 | % | 0.330 | % |
Permanent Financing No.4 |
| Series 2 Class C |
| BBB / Baa2 / BBB |
| 12/Mar/2007 |
| 10/Jun/2042 |
| $ | 82,200,000 |
| $ | 82,200,000 |
| 5.35313 | % | 0.720 | % |
Permanent Financing No.4 |
| Series 3 Class A |
| AAA / Aaa / AAA |
| 10/Dec/2008 & 10/Mar/2009 |
| 11/Mar/2024 |
| $ | 1,700,000,000 |
| $ | 1,700,000,000 |
| 5.35313 | % | 0.140 | % |
Permanent Financing No.4 |
| Series 3 Class B |
| AA / Aa3 / AA |
| 10/Mar/2009 |
| 10/Jun/2042 |
| $ | 75,800,000 |
| $ | 75,800,000 |
| 5.35313 | % | 0.230 | % |
Permanent Financing No.4 |
| Series 3 Class M |
| A / A2 / A |
| 10/Mar/2009 |
| 10/Jun/2042 |
| $ | 40,400,000 |
| $ | 40,400,000 |
| 5.35313 | % | 0.370 | % |
Permanent Financing No.4 |
| Series 3 Class C |
| BBB / Baa2 / BBB |
| 10/Mar/2009 |
| 10/Jun/2042 |
| $ | 55,400,000 |
| $ | 55,400,000 |
| 5.35313 | % | 0.800 | % |
Permanent Financing No.4 |
| Series 4 Class A |
| AAA / Aaa / AAA |
| 10/Sep/2009 & 10/Dec/2009 |
| 10/Mar/2034 |
| € | 1,500,000,000 |
| € | 1,500,000,000 |
| 3.66200 | % | 0.150 | % |
Permanent Financing No.4 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Dec/2009 |
| 10/Jun/2042 |
| € | 85,000,000 |
| € | 85,000,000 |
| 3.66200 | % | 0.280 | % |
Permanent Financing No.4 |
| Series 4 Class M |
| A / A2 / A |
| 10/Dec/2009 |
| 10/Jun/2042 |
| € | 62,500,000 |
| € | 62,500,000 |
| 3.66200 | % | 0.450 | % |
Permanent Financing No.4 |
| Series 5 Class A1 |
| AAA / Aaa / AAA |
| 10/Mar/2011 |
| 10/Jun/2042 |
| € | 750,000,000 |
| € | 750,000,000 |
| — |
| 3.9615 | % |
Permanent Financing No.4 |
| Series 5 Class A2 |
| AAA / Aaa / AAA |
| 10/Mar/2011 |
| 10/Jun/2042 |
| £ | 1,100,000,000 |
| £ | 1,100,000,000 |
| 5.27375 | % | 0.170 | % |
Permanent Financing No.4 |
| Series 5 Class B |
| AA / Aa3 / AA |
| 10/Mar/2011 |
| 10/Jun/2042 |
| £ | 43,000,000 |
| £ | 43,000,000 |
| 5.27375 | % | 0.330 | % |
Permanent Financing No.4 |
| Series 5 Class M |
| A / A2 / A |
| 10/Mar/2011 |
| 10/Jun/2042 |
| £ | 32,000,000 |
| £ | 32,000,000 |
| 5.27375 | % | 0.500 | % |
Permanent Financing No.4 |
| Series 5 Class C |
| BBB / Baa2 / BBB |
| 10/Mar/2011 |
| 10/Jun/2042 |
| £ | 54,000,000 |
| £ | 54,000,000 |
| 5.27375 | % | 0.900 | % |
Permanent Financing No.5 |
| Series 2 Class A |
| AAA / Aaa / AAA |
| 11/Dec/2006, 12/Mar/2007, 11/Jun/2007 & 10/Sep/2007 |
| 10/Jun/2011 |
| $ | 1,300,000,000 |
| $ | 975,000,000 |
| 5.35313 | % | 0.110 | % |
Permanent Financing No.5 |
| Series 2 Class B |
| AA / Aa3 / AA |
| 10/Sep/2007 |
| 10/Jun/2042 |
| $ | 56,400,000 |
| $ | 56,400,000 |
| 5.35313 | % | 0.180 | % |
Permanent Financing No.5 |
| Series 2 Class C |
| BBB / Baa2 / BBB |
| 10/Sep/2007 |
| 10/Jun/2042 |
| $ | 46,200,000 |
| $ | 46,200,000 |
| 5.35313 | % | 0.650 | % |
Permanent Financing No.5 |
| Series 3 Class A |
| AAA / Aaa / AAA |
| 10/Mar/2009 & 10/Jun/2009 |
| 12/Jun/2034 |
| $ | 750,000,000 |
| $ | 750,000,000 |
| 5.35313 | % | 0.160 | % |
Permanent Financing No.5 |
| Series 3 Class B |
| AA / Aa3 / AA |
| 10/Jun/2009 |
| 10/Jun/2042 |
| $ | 32,500,000 |
| $ | 32,500,000 |
| 5.35313 | % | 0.260 | % |
Permanent Financing No.5 |
| Series 3 Class C |
| BBB / Baa2 / BBB |
| 10/Jun/2009 |
| 10/Jun/2042 |
| $ | 27,000,000 |
| $ | 27,000,000 |
| 5.35313 | % | 0.820 | % |
Permanent Financing No.5 |
| Series 4 Class A |
| AAA / Aaa / AAA |
| 10/Sep/2009 & 10/Dec/2009 |
| 10/Jun/2042 |
| € | 1,000,000,000 |
| € | 1,000,000,000 |
| 3.66200 | % | 0.170 | % |
Permanent Financing No.5 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Dec/2009 |
| 10/Jun/2042 |
| € | 43,500,000 |
| € | 43,500,000 |
| 3.66200 | % | 0.330 | % |
Permanent Financing No.5 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 10/Dec/2009 |
| 10/Jun/2042 |
| € | 36,000,000 |
| € | 36,000,000 |
| 3.66200 | % | 0.780 | % |
Permanent Financing No.5 |
| Series 5 Class A1 |
| AAA / Aaa / AAA |
| 10/Jun/2011 |
| 10/Jun/2042 |
| £ | 500,000,000 |
| £ | 500,000,000 |
| — |
| 5.625 | % |
Permanent Financing No.5 |
| Series 5 Class A2 |
| AAA / Aaa / AAA |
| 10/Jun/2011 |
| 10/Jun/2042 |
| £ | 750,000,000 |
| £ | 750,000,000 |
| 5.27375 | % | 0.190 | % |
Permanent Financing No.5 |
| Series 5 Class B |
| AA / Aa3 / AA |
| 10/Jun/2011 |
| 10/Jun/2042 |
| £ | 47,000,000 |
| £ | 47,000,000 |
| 5.27375 | % | 0.350 | % |
Permanent Financing No.5 |
| Series 5 Class C |
| BBB / Baa2 / BBB |
| 10/Jun/2011 |
| 10/Jun/2042 |
| £ | 39,000,000 |
| £ | 39,000,000 |
| 5.27375 | % | 0.850 | % |
Permanent Financing No.6 |
| Series 2 Class A |
| AAA / Aaa / AAA |
| 10/Sep/2007 & 10/Dec/2007 |
| 12/Dec/2011 |
| $ | 1,000,000,000 |
| $ | 1,000,000,000 |
| 5.35313 | % | 0.090 | % |
Permanent Financing No.6 |
| Series 2 Class B |
| AA / Aa3 / AA |
| 10/Dec/2007 |
| 10/Jun/2042 |
| $ | 35,800,000 |
| $ | 35,800,000 |
| 5.35313 | % | 0.140 | % |
Permanent Financing No.6 |
| Series 2 Class C |
| BBB / Baa2 / BBB |
| 10/Dec/2007 |
| 10/Jun/2042 |
| $ | 34,700,000 |
| $ | 34,700,000 |
| 5.35313 | % | 0.450 | % |
Permanent Financing No.6 |
| Series 3 Class A |
| AAA / Aaa / AAA |
| 10/Dec/2007, 10/Mar/2008, 10/Jun/2008 & 10/Sep/2008 |
| 10/Sep/2032 |
| £ | 1,000,000,000 |
| £ | 1,000,000,000 |
| 5.27375 | % | 0.125 | % |
Permanent Financing No.6 |
| Series 3 Class B |
| AA / Aa3 / AA |
| 10/Sep/2008 |
| 10/Jun/2042 |
| £ | 35,300,000 |
| £ | 35,300,000 |
| 5.27375 | % | 0.230 | % |
Permanent Financing No.6 |
| Series 3 Class C |
| BBB / Baa2 / BBB |
| 10/Sep/2008 |
| 10/Jun/2042 |
| £ | 34,200,000 |
| £ | 34,200,000 |
| 5.27375 | % | 0.680 | % |
Permanent Financing No.6 |
| Series 4 Class A |
| AAA / Aaa / AAA |
| 10/Dec/2009 & 10/Mar/2010 |
| 10/Jun/2042 |
| € | 750,000,000 |
| € | 750,000,000 |
| 3.66200 | % | 0.140 | % |
Permanent Financing No.6 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Mar/2010 |
| 10/Jun/2042 |
| € | 26,100,000 |
| € | 26,100,000 |
| 3.66200 | % | 0.230 | % |
Permanent Financing No.6 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 10/Mar/2010 |
| 10/Jun/2042 |
| € | 25,300,000 |
| € | 25,300,000 |
| 3.66200 | % | 0.680 | % |
Permanent Financing No.6 |
| Series 5 Class A1 |
| AAA / Aaa / AAA |
| 12/Sep/2011 |
| 10/Jun/2042 |
| £ | 500,000,000 |
| £ | 500,000,000 |
| 5.27375 | % | 0.150 | % |
Permanent Financing No.6 |
| Series 5 Class A2 |
| AAA / Aaa / AAA |
| 12/Sep/2011 |
| 10/Jun/2042 |
| £ | 500,000,000 |
| £ | 500,000,000 |
| 5.27375 | % | 0.160 | % |
Permanent Financing No.6 |
| Series 5 Class B |
| AA / Aa3 / AA |
| 12/Sep/2011 |
| 10/Jun/2042 |
| £ | 34,800,000 |
| £ | 34,800,000 |
| 5.27375 | % | 0.310 | % |
Permanent Financing No.6 |
| Series 5 Class C |
| BBB / Baa2 / BBB |
| 12/Sep/2011 |
| 10/Jun/2042 |
| £ | 33,700,000 |
| £ | 33,700,000 |
| 5.27375 | % | 0.800 | % |
Permanent Financing No.7 |
| Series 2 Class A |
| AAA / Aaa / AAA |
| 10/Sep/2007 |
| 10/Sep/2014 |
| $ | 1,400,000,000 |
| $ | 1,400,000,000 |
| 5.35313 | % | 0.040 | % |
Permanent Financing No.7 |
| Series 2 Class B |
| AA / Aa3 / AA |
| 10/Sep/2007 |
| 10/Jun/2042 |
| $ | 60,700,000 |
| $ | 60,700,000 |
| 5.35313 | % | 0.110 | % |
Permanent Financing No.7 |
| Series 2 Class C |
| BBB / Baa2 / BBB |
| 10/Sep/2007 |
| 10/Jun/2042 |
| $ | 59,200,000 |
| $ | 59,200,000 |
| 5.35313 | % | 0.330 | % |
Permanent Financing No.7 |
| Series 3 Class A |
| AAA / Aaa / AAA |
| 10/Sep/2009, 10/Dec/2009, 10/Mar/2010 & 10/Jun/2010 |
| 10/Sep/2032 |
| € | 1,700,000,000 |
| € | 1,700,000,000 |
| 3.66200 | % | 0.070 | % |
Permanent Financing No.7 |
| Series 3 Class B |
| AA / Aa3 / AA |
| 10/Jun/2010 |
| 10/Jun/2042 |
| € | 73,700,000 |
| € | 73,700,000 |
| 3.66200 | % | 0.120 | % |
Permanent Financing No.7 |
| Series 3 Class C |
| BBB / Baa2 / BBB |
| 10/Jun/2010 |
| 10/Jun/2042 |
| € | 71,800,000 |
| € | 71,800,000 |
| 3.66200 | % | 0.430 | % |
Permanent Financing No.7 |
| Series 4 Class A |
| AAA / Aaa / AAA |
| 10/Jun/2010 & 10/Sep/2010 |
| 10/Sep/2032 |
| £ | 850,000,000 |
| £ | 850,000,000 |
| 5.27375 | % | 0.080 | % |
Permanent Financing No.7 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Sep/2010 |
| 10/Jun/2042 |
| £ | 36,800,000 |
| £ | 36,800,000 |
| 5.27375 | % | 0.130 | % |
Permanent Financing No.7 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 10/Sep/2010 |
| 10/Jun/2042 |
| £ | 35,900,000 |
| £ | 35,900,000 |
| 5.27375 | % | 0.450 | % |
Permanent Financing No.7 |
| Series 5 Class A |
| AAA / Aaa / AAA |
| 10/Jun/2011 & 12/Dec/2011 |
| 10/Sep/2032 |
| £ | 500,000,000 |
| £ | 500,000,000 |
| 5.27375 | % | 0.100 | % |
6
Permanent Financing No.8 |
| Series 2 Class A |
| AAA / Aaa / AAA |
| 10/Jun/2008 |
| 10/Jun/2014 |
| $ | 1,400,000,000 |
| $ | 1,400,000,000 |
| 5.35313 | % | 0.070 | % | ||
Permanent Financing No.8 |
| Series 2 Class B |
| AA / Aa3 / AA |
| 10/Jun/2008 |
| 10/Jun/2042 |
| $ | 69,800,000 |
| $ | 69,800,000 |
| 5.35313 | % | 0.150 | % | ||
Permanent Financing No.8 |
| Series 2 Class C |
| BBB / Baa2 / BBB |
| 10/Jun/2008 |
| 10/Jun/2042 |
| $ | 82,900,000 |
| $ | 82,900,000 |
| 5.35313 | % | 0.400 | % | ||
Permanent Financing No.8 |
| Series 3 Class A |
| AAA / Aaa / AAA |
| 10/Mar/2010 & 10/Jun/2010 |
| 10/Sep/2032 |
| $ | 1,000,000,000 |
| $ | 1,000,000,000 |
| 5.35313 | % | 0.120 | % | ||
Permanent Financing No.8 |
| Series 3 Class B |
| AA / Aa3 / AA |
| 10/Jun/2010 |
| 10/Jun/2042 |
| $ | 52,000,000 |
| $ | 52,000,000 |
| 5.35313 | % | 0.200 | % | ||
Permanent Financing No.8 |
| Series 3 Class C |
| BBB / Baa2 / BBB |
| 10/Jun/2010 |
| 10/Jun/2042 |
| $ | 40,400,000 |
| $ | 40,400,000 |
| 5.35313 | % | 0.520 | % | ||
Permanent Financing No.8 |
| Series 4 Class A |
| AAA / Aaa / AAA |
| 10/Sep/2010 & 10/Dec/2010 |
| 10/Sep/2032 |
| € | 1,000,000,000 |
| € | 1,000,000,000 |
| 3.66200 | % | 0.130 | % | ||
Permanent Financing No.8 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 10/Dec/2010 |
| 10/Jun/2042 |
| € | 47,200,000 |
| € | 47,200,000 |
| 3.66200 | % | 0.200 | % | ||
Permanent Financing No.8 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 10/Dec/2010 |
| 10/Jun/2042 |
| € | 65,700,000 |
| € | 65,700,000 |
| 3.66200 | % | 0.520 | % | ||
Permanent Financing No.8 |
| Series 5 Class A1 |
| AAA / Aaa / AAA |
| 12/Dec/2011 |
| 10/Jun/2042 |
| £ | 400,000,000 |
| £ | 400,000,000 |
| 5.27375 | % | 0.150 | % | ||
Permanent Financing No.8 |
| Series 5 Class A2 |
| AAA / Aaa / AAA |
| 12/Sep/2011 & 12/Dec/2011 |
| 10/Sep/2032 |
| £ | 600,000,000 |
| £ | 600,000,000 |
| 5.27375 | % | 0.150 | % | ||
Permanent Financing No.8 |
| Series 5 Class A3 |
| AAA / Aaa / AAA |
| 12/Dec/2011 |
| 10/Jun/2042 |
| £ | 500,000,000 |
| £ | 500,000,000 |
| 5.27375 | % | 0.150 | % | ||
Permanent Financing No.9 |
| Series 1 Class A |
| A-1+ / P-1 / F1+ |
| 12/Mar/2007 |
| 12/Mar/2007 |
| $ | 1,500,000,000 |
| $ | 1,500,000,000 |
| 5.35000 | % | -0.030 | % | ||
Permanent Financing No.9 |
| Series 1 Class B |
| AA / Aa3 / AA |
| 12/Mar/2007 |
| 10/Jun/2042 |
| $ | 63,400,000 |
| $ | 63,400,000 |
| 5.35313 | % | 0.080 | % | ||
Permanent Financing No.9 |
| Series 1 Class C |
| BBB / Baa2 / BBB |
| 12/Mar/2007 |
| 10/Jun/2042 |
| $ | 66,600,000 |
| $ | 66,600,000 |
| 5.35313 | % | 0.300 | % | ||
Permanent Financing No.9 |
| Series 2 Class A |
| AAA / Aaa / AAA |
| 10/Mar/2009 |
| 10/Mar/2015 |
| $ | 1,750,000,000 |
| $ | 1,750,000,000 |
| 5.35313 | % | 0.040 | % | ||
Permanent Financing No.9 |
| Series 2 Class B |
| AA / Aa3 / AA |
| 10/Mar/2009 |
| 10/Jun/2042 |
| $ | 67,800,000 |
| $ | 67,800,000 |
| 5.35313 | % | 0.130 | % | ||
Permanent Financing No.9 |
| Series 2 Class C |
| BBB / Baa2 / BBB |
| 10/Mar/2009 |
| 10/Jun/2042 |
| $ | 72,800,000 |
| $ | 72,800,000 |
| 5.35313 | % | 0.380 | % | ||
Permanent Financing No.9 |
| Series 3 Class A |
| AAA / Aaa / AAA |
| 10/Dec/2010 & 10/Mar/2011 |
| 10/Jun/2033 |
| $ | 1,000,000,000 |
| $ | 1,000,000,000 |
| 5.35313 | % | 0.100 | % | ||
Permanent Financing No.9 |
| Series 3 Class B |
| AA / Aa3 / AA |
| 10/Mar/2011 |
| 10/Jun/2042 |
| $ | 38,000,000 |
| $ | 38,000,000 |
| 5.35313 | % | 0.170 | % | ||
Permanent Financing No.9 |
| Series 3 Class C |
| BBB / Baa2 / BBB |
| 10/Mar/2011 |
| 10/Jun/2042 |
| $ | 41,900,000 |
| $ | 41,900,000 |
| 5.35313 | % | 0.500 | % | ||
Permanent Financing No.9 |
| Series 4 Class A |
| AAA / Aaa / AAA |
| 10/Jun/2011 & 12/Sep/2011 |
| 10/Jun/2033 |
| € | 1,600,000,000 |
| € | 1,600,000,000 |
| 3.66200 | % | 0.110 | % | ||
Permanent Financing No.9 |
| Series 4 Class B |
| AA / Aa3 / AA |
| 12/Sep/2011 |
| 10/Jun/2042 |
| € | 61,200,000 |
| € | 61,200,000 |
| 3.66200 | % | 0.150 | % | ||
Permanent Financing No.9 |
| Series 4 Class C |
| BBB / Baa2 / BBB |
| 12/Sep/2011 |
| 10/Jun/2042 |
| € | 64,600,000 |
| € | 64,600,000 |
| 3.66200 | % | 0.500 | % | ||
Permanent Financing No.9 |
| Series 5 Class A |
| AAA / Aaa / AAA |
| 10/Sep/2012 |
| 10/Jun/2042 |
| £ | 750,000,000 |
| £ | 750,000,000 |
| 5.27375 | % | 0.110 | % | ||
Permanent Master Issuer |
| 2006-1 1A |
| A-1+ / P-1 / F-1+ |
| 15/Oct/2007 |
| 15/Oct/2007 |
| $ | — |
| $ | 1,000,000,000 |
| 5.35000 | % | -0.020 | % | ||
Permanent Master Issuer |
| 2006-1 1B |
| AA / Aa3 / AA |
| 15/Oct/2007 |
| 15/Jul/2042 |
| $ | — |
| $ | 35,800,000 |
| 5.37296 | % | 0.080 | % | ||
Permanent Master Issuer |
| 2006-1 1C |
| BBB / Baa2 / BBB |
| 15/Oct/2007 |
| 15/Jul/2042 |
| $ | — |
| $ | 35,800,000 |
| 5.37296 | % | 0.200 | % | ||
Permanent Master Issuer |
| 2006-1 2A |
| AAA / Aaa / AAA |
| 15/Oct/2009 |
| 15/Oct/2015 |
| $ | — |
| $ | 1,750,000,000 |
| 5.37296 | % | 0.040 | % | ||
Permanent Master Issuer |
| 2006-1 2B |
| AA / Aa3 / AA |
| 15/Oct/2009 |
| 15/Jul/2042 |
| $ | — |
| $ | 134,900,000 |
| 5.37296 | % | 0.120 | % | ||
Permanent Master Issuer |
| 2006-1 2C |
| BBB / Baa2 / BBB |
| 15/Oct/2009 |
| 15/Jul/2042 |
| $ | — |
| $ | 134,900,000 |
| 5.37296 | % | 0.400 | % | ||
Permanent Master Issuer |
| 2006-1 3A |
| AAA / Aaa / AAA |
| 15/Oct/2009 & 15/Jan/2010 |
| 15/Jul/2033 |
| CA$ | — |
| CA$ | 350,000,000 |
| 4.34415 | % | 0.055 | % | ||
Permanent Master Issuer |
| 2006-1 4A1 |
| AAA / Aaa / AAA |
| 15/Oct/2008 |
| 15/Oct/2015 |
| € | — |
| € | 500,000,000 |
| 3.49500 | % | 0.060 | % | ||
Permanent Master Issuer |
| 2006-1 4A2 |
| AAA / Aaa / AAA |
| 15/Oct/2009 & 15/Jan/2010 |
| 15/Jul/2033 |
| € | — |
| € | 1,750,000,000 |
| 3.49500 | % | 0.110 | % | ||
Permanent Master Issuer |
| 2006-1 4B |
| AA / Aa3 / AA |
| 15/Jan/2010 |
| 15/Jul/2042 |
| € | — |
| € | 129,300,000 |
| 3.49500 | % | 0.150 | % | ||
Permanent Master Issuer |
| 2006-1 4C |
| BBB / Baa2 / BBB |
| 15/Jan/2010 |
| 15/Jul/2042 |
| € | — |
| € | 129,300,000 |
| 3.49500 | % | 0.450 | % | ||
Permanent Master Issuer |
| 2006-1 5A |
| AAA / Aaa / AAA |
| 16/Jul/2012 & 15/Oct/2012 |
| 15/Jul/2033 |
| $ | — |
| $ | 1,500,000,000 |
| 5.37296 | % | 0.110 | % | ||
Permanent Master Issuer |
| 2006-1 6A1 |
| AAA / Aaa / AAA |
| 15/Apr/2013 |
| 15/Apr/2020 |
| £ | — |
| £ | 500,000,000 |
| 5.11715 | % | 0.120 | % | ||
Permanent Master Issuer |
| 2006-1 6A2 |
| AAA / Aaa / AAA |
| 15/Apr/2013 |
| 15/Apr/2020 |
| £ | — |
| £ | 600,000,000 |
| 5.11715 | % | 0.120 | % | ||
*Permanent Master Issuer is a Funding 2 Issuing Entity; the others are Funding 1 Issuing Entities.
Contact details and report distribution channels
If you have any queries regarding this report, please contact:
Tracey Hill
LP/3/3/SEC
Trinity Road
Halifax
HX1 2RG
Tel: +44 (0) 113 235 2176
Fax: +44 (0) 113 235 7511
e-mail: traceyhill@halifax.co.uk
Reports can be obtained from :
markunsworth@halifax.co.uk
or:
SEC EDGAR database @: www.sec.gov/edgar
Bloomberg under ticker: Perma or Permm
7
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.
| PERMANENT FINANCING (NO. 2) PLC |
| |
|
| (Registrant) |
|
|
|
|
|
|
|
|
|
Date January 22, 2007 |
| /s/David Balai |
|
|
| By: David Balai |
|
|
| Title: Director |
|
|
|
|
|
|
| PERMANENT FUNDING (NO. 1) LIMITED |
|
|
| (Registrant) |
|
|
|
|
|
|
|
|
|
Date January 22, 2007 |
| /s/David Balai |
|
|
| By: David Balai |
|
|
| Title: Director |
|
|
|
|
|
|
| PERMANENT MORTGAGES TRUSTEE LIMITED |
|
|
| (Registrant) |
|
|
|
|
|
|
|
|
|
Date January 22, 2007 |
| /s/David Balai |
|
|
| By: David Balai |
|
|
| Title: Director |
|
