Financially Structuring the Fund

Modelling the Fund’s Economic Performance:

selected assets, liabilities and securities issued and expected returns for the Originator.

Preparing

the successive documents presenting the transaction and its terms and conditions.

Negotiating with the Rating Agencies

the ratings assigned and the required credit enhancement.

Selecting bidders invited

for bond underwriting and placement, analysing bids and making the award. And as counterparties to credit enhancement transactions, analysis of offers and designation

Europea de Titulización is also involved in transactions where it is not entrusted with financially structuring the Fund, at all events doing the following:

Analysing Consistency

of the financial structure, flow performance and accounting and tax definition.

Suggesting changes to the proposed structure.

Taking part in the rating process of the securities to be issued.