Sirius Logistics 2026-1 UK DAC: 07 February 2026
The Issuer will make payments on the Notes and the Issuer Loan from, inter alia, payments of principal and interest received by the Issuer under loans advanced by the Loan Sellers to the Borrowers pursuant to the Facility Agreement.
On the Closing Date, the Issuer will acquire from the Loan Sellers an interest of £526mln of the outstanding principal amount of the Tranche B Loan (representing 65% in the aggregate Loan as of the Closing Date). Further to such acquisition, the Loan Sellers will retain, on the Closing Date, an interest of £277mln of the outstanding principal amount of the Tranche A Loan (representing 35% in the aggregate Loan as of the Closing Date).
The Loan is secured by, among other things, the portfolio of 126 properties located throughout the United Kingdom, of which 117 are located in England and Wales and 9 are in Scotland.
The Property Portfolio is geographically diversified across the UK: London with 24 assets accounting for 27% of the Market Value of the Property Portfolio, the North West with 28 assets accounting for 24% of the MV, the South East with 23 assets accounting for 19% of the MV, and other UK regions with 51 assets accounting for the remainder of the MV.
UK & EU Risk Retention: Bank of America Europe DAC, Standard Chartered Bank, and Wells Fargo Bank NA London Branch, as originators, will retain a material net economic interest of not less than 5% in the securitisation in accordance with the text of (i) Article 6(1) of Regulation (EU) 2017/2402 of the European Parliament and (ii) SECN 5 (the "FCA Retention Rules") and Article 6 of Chapter 2 together with Chapter 4 of the PRA Securitisation Rules. As at the Closing Date, such retained material net economic interest will comprise not less than 5% of the nominal value of each of the tranches sold or transferred to investors.
US Risk Retention: An economic interest in the credit risk of the securitised assets in this transaction is expected to be retained. Bank of America Europe Designated Activity Company, as a Co-Sponsor, will act as the initial retaining sponsor.
Compare/contrast: UK Logistics 2025-2