Transaction Update: Temese Funding 2 PLC

S&P Global Ratings today affirmed its 'AAA (sf)' credit rating on Temese Funding 2 PLC's class A asset-backed fixed-rate notes following the restructuring of the transaction, which increased the amount of this class of notes to £520.00 million from £228.25 million. As part of the restructuring, Temese Funding 2 also increased to £130.00 million from £46.75 million the amount of the unrated class B notes and to £5.40 million from £5.25 million the amount of the unrated class C notes (the current balance is £52.50). The transaction has a prefunding period of six months and a revolving period of four years. The replenishment period was extended by four years from the May 18, 2017 restructuring date. Temese Funding 2 is

...S&P Global Ratings today affirmed its '### (sf)' credit rating on Temese Funding 2 PLC's class A asset-backed fixed-rate notes following the restructuring of the transaction, which increased the amount of this class of notes to ú520.00 million from ú228.25 million. As part of the restructuring, Temese Funding 2 also increased to ú130.00 million from ú46.75 million the amount of the unrated class B notes and to ú5.40 million from ú5.25 million the amount of the unrated class C notes (the current balance is ú52.50). The transaction has a prefunding period of six months and a revolving period of four years. The replenishment period was extended by four years from the May 18, 2017 restructuring date. Temese Funding 2 is an existing U.K. equipment lease transaction, with underlying lease receivables originated by Investec Asset Finance PLC (see "New Issue: Temese Funding 2 PLC," published on Nov. 14, 2014). This is the second transaction by Investec Asset Finance. On the restructuring date,...

Transaction Update Report