EFTA01434918.pdf

Subject: FW: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at [3%] / 45 Mio. Junior at [9%] / Notes 4NC3 - November tar et close From: Stewart Oldfield Date: Thu, 02 Nov 2017 13:53:54 -0400 To: Matt Glassman Bcc: Lauren Pressman Brooks Blake Gene Lynch — check w/ Tazia Chris Aiken and Greg Bronson (they will refer you to their European colleagues) Greg Martin Paul Barrett ( ) — check w/ Vahe and Martin Paul Watson and Robert Forsythe From: Andreas Stamm Sent: Wednesday, November 01, 2017 4:14 PM To: Matt Glassman ; Matt Sadd < =>; Clement Jacquesson < Cc: Stewart Oldfield >; Todd Stevens Subject: AW: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at [3%] / 45 Mio. Junior at [9%] / Notes 4NC3 - November target close There is no formal name approval. The desk trusts on everyone ability to show this to relevant potential investors and not to blast it out to everyone. I would suggest a two way process to call and investors and/or sent teaser simultaneously. And if still interested sent termsheet plus valuation. EFTA01434918 Takeout financing is only relevant in three years. There are the usual suspects in Germany which are doing this. I doubt they have locked in already by now. But refinancing is obviously one of the key risks in the deal. Andreas Stamm Deutsche Bank AG - Wealth Mana ement - Key Client Partners - phone +49 69 910 36940 - mob Von: Matt Glassman ‹ > Datum Mittwoch, 01. Nov. 2017, 8:48 PM An: Matt Sadd Wkr idreasStamm s Clement Jacquesson Cc: Stewart Oldfield a, Todd Stevens Betreff: RE: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at [3%] / 45 Mio. Junior at [9%] / Notes 4NC3 - November target close We have several clients/prospects we would like to discuss the junior piece with. What is the process to approve names/socialize the teaser and termsheet. Additionally is there any visibility on a takeout/permanent financing once planning is completed? Thanks in advance for your help. EFTA01434919 Regards, Matt Matt Glassman Vice President I Key Client Partners - US Deutsche Bank Wealth Management Deutsche Bank Securities Inc 345 Park Avenue New York, NY 10154 Tel. Mobile Email This email may contain confidential and/or privileged information. If you are not the intended recipient (or have received this email in error), please notify the sender immediately and delete the email from your computer. Any unauthorized copying, disclosure or distribution of the material in this email is prohibited. Deutsche Bank does not accept orders and/or instructions regarding your account by email. 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EFTA01434920 From: Matt Sadd Sent: Tuesday, October 31, 2017 5:26 AM To: Adrien Ma'or A'a Ahu'a ; Ali Fassa ; Amrit Singh Andrew De-Palma ; Anna Mitchell ; Apurva Gupta ; Arthur Dagarna < Asaf Raveh ; Avshalom Shimi < Chris Hocking >; Clemens Kaiser ; Clément Jacquesson ; Corin George < Domini ue Kuenzler >; Fabien Roth ; Federico Scrocco >; Frederic Hilal ; Gary Alhanko ; Gianmarco Gnemmi ; Hans-Joer Puetz <hans- ; Igor Wagner ; Ilias Demagos ; James Roberts ; Katy Huang KCP EMEA kcp germany ; KCP Team ; Kcp Uk kc switzerland ; Ksenija Parsikova ; Kuat Anda ; Lee Holland ; Leopold Haitz Loic Voide Ludovico Salina ; Luigi Rizzi >; Marco Geromin Marcus Roth Matteo Cavestro ; Michael Morley >; Michele Soldati ; Mitch Matharu Mubashar A ; Nicolas Patsalos Lioutenko • Patrizia Travella ; Paul Harald Arni Roberto Parazzini Sa ar-A Singh <sagar- ; Sascha Pietrek • Sebastian Schier ; Shivani Bhar ava Silvia Vecchietti Steve Wainwri ht ; Steve Whiting • Thomas Bleier ; Thomas-A Steffen Todd Stevens ; Urooj Alam ; Vanessa Garrido ; Vasiliy Sofi ski • Viktoriya Kan ; Vincent Carfora ; Vincenzo Maini < Yael Polus Yael Rabinowitz Alastair Mackinlay ; Billy Obregon EFTA01434921  ; Bobby Abraham ; Daniel-E Kaiser ; KCP-Americas • Martin Zeman ; Mathew Negus ; Matt Glassman Oliver Rothauser • Xavier Avila Cc: Andreas Stamm ; Clement Jacquesson ; Joerg Oestreich Subject: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at [3%] / 45 Mio. Junior at [9%] / Notes 4NC3 - November target close Internal Only — Dear all, Please find new German RE Senior / Junior structure in marketing. LARGE JUNIOR NOTE!!!. Contact Andreas Stamm or Clement Jacquesson in KCP if you have clients potentially interested, as they will co-ordinate PWM book build. Please find below the info on the Stuttgart deal, this is a land bridge to full planning. This is a placement deal, DB will not retain any of the risk. We have done 6 similar transactions in the last 18 months and will do more of these in the future (potentially another 3 until the end of the year). Please let us know any questions you might have. The below can be send out to clients, but please don't blast but send on a targeted approach. This can be in loan (SSD) or Bond format. Attached you find the teaser and the termsheet — we are waiting for the English version of the valuation. EFTA01434922 We have been mandated by SSN Group for the financing of properties in Stuttgart: Stuttgart is the capital of Baden-WOrttemberg and is Germany's sixth largest city. The Stuttgart metropolitan region is one of Germany's strongest regions and home to many world-leading companies including Bosch, Daimler, Porsche, IBM, E&Y, HP, Celesio and numerous Mittelstand (German mid cap) companies. The space for expanding the city is relatively limited due to topographic and environmental factors and there are very few large areas which can be developed. The former headquarter of IBM (Campus Garden, designed by the famous architect Egon Eiermann) is an extensive building complex, which is partly protected by monumental protection and located appr. 3 km east of the city center of Stuttgart-Vaihingen. The property with its area of appr. 194,000sqm is one of the few available opportunities for expansion of the city and the region of Stuttgart. The land plot is designated as residential area for appr. 3,500 residents, comprising of 60% rental apartments, 14% condominiums and 26% commercial use. SSN Group is a well-known project developer in Germany. Details of the financing: Product: Real estate secured loan agreement or bond instrument Rate of Interest: Senior: [3.00]% p.a., Junior: [9.00]% p.a. Payable quarterly (Step-up of the Interest Rate of 0,50% (Senior) or 2,00% in year 4) EFTA01434923 Aggregate Nominal Amount: Senior up to EUR 75mn / Junior up to EUR 45mn Maturity: 4 years (3 years initial loan term) Repayment On each interest payment date at a price equal to the sum of all interest payments until the end of year 3 Paying Agent: Deutsche Bank Trustee: Wilmington Trust Facility Agent/ Account Agent: Solutus Market Value: EUR 177.8mn (JLL) LTV Senior (market value): 42.18% LTV Junior (market value): 67.49% The transaction shall close in November 2017. EFTA01434924