LTR Finance No. 7

Following on from the previous LTR transactions (the LTR no.6 closed in Sept 2006), the issue is a
securitisation of Portugese and Spanish consumer & auto loans from originator Sofinloc, which is a
wholly owned subsidiary of Banco Finantia, S.A.

In 1992, Sofinloc was acquired by the Banco Finantia Group, and was a pioneer company in the
Portuguese specialised finance industry. Shortly after starting operations in 1982, following the de-
regulation of the Portuguese financial sector, Sofinloc became the leader of the leasing sector. Dur-
ing this period its activities were mainly focused on industrial equipment leasing.

The Spanish entity, Banco Finantia Sofinloc, S.A. was founded as a private-law banking entity in Dec-
ember 1993 as a result of the merger of a financial institution and a leasing company and is focused
on the financing of vehicles and consumer durable goods for Spanish-resident individuals and comp-
anies. Its activities concerning vehicle financings are carried out mainly through its distribution net-
work, mostly consisting of vehicle dealers.

The 8,017 “contracts” in portfolio is made of six distinct product types: Portuguese Auto Credit (2,202
receivables, 27.52% of outstanding balances); Portuguese Auto Leasing (454 receivables, 5.22%);
Portuguese Auto LTR (289 receivables, 3.79%); Portuguese Equipment Leasing (730 receivables,
8.25%); Spanish Auto Credit (3,395 47.23% of outstanding balances); and Spanish Auto Leasing
(947, 8.0%).

New cars account for 5,444 of the receivables (68.0% of balances), and private obligors for 6,451
“contracts” (82.5% of balances). The average current balance is Eur15,494 and the largest receiv-
able in the pool is for Eur191,335. The majority of the contracts (6,910 – 86.13% of current balances)
are at fixed rates of interest and WA seasoning is 13.03mnths.

Compare/contrast: LTR 6, Chaves Funding No. 5 Limited, FTA Santander Consumer Spain 2008-1
LTR Finance No. 6 Chaves Funding No. 5 Limited FTA Santander Consumer Spain 2008-1