Nova Finance 4 Ltd

This will be the fourth consumer loan securitisation involving assets originated by Banco Comercial
Português, S.A, all-be-it the last transaction having closed as far back as Nov 2002. Apart from
about 900 branches the bank has on its home turf, it also has operations in Africa, Asia, Europe
(primarily Poland and Greece), and North America (through bcpbank). BCP offers a multitude of
financial services for business and consumer customers under its Millennium bcp brand. It provides
investment and asset management services through subsidiary Millennium Investimentos. It offers
life insurance through a joint venture with Benelux bancassurer Fortis (Fortis controls the unit), and
health insurance through Médis.

The underlaying collateral can be classified as general purpose consumer loans. The loans are
unsecured and are granted for a range of purposes, including the purchase of cars or other goods,
home improvement works and other general consumer purposes. All contracts carry a fixed rate of
interest with constant monthly instalments collected by direct debit. All contracts may be prepaid
either in whole or in part. A penalty fee may be charged if prepayment occurs during the first quarter
of the life of the contract.

The portfolio will have a three-year revolving period, but the initial pool has the following character-
istics: number of receivables, 103,085; number of obligors, 96,956; WA seasoning 15.33mnths;
average outstanding loan size Eur7,826.92; obligor location, Lisbon 23.83%, Porto 19.11%.


Compare/contrast: Nova Finance 3, Daneion, Financion Banesto 1 FTA
Nova Finance 3 plcDaneion 2007-1 PlcFinancion Banesto 1 FTA