RESTRUCTURING

摘要

Special servicer Hatfield Philips has revealed the updated valuations for the assets backing the DT-12 and Valentine loans in talisman-4. A deal notice puts the DT-12 value at €90.68m as of February 1 against a loan amount of €162.9m. The previous valuation was €132.82m on November 1 2012. The reasons cited for the decline include shorter weighted average remaining lease term of 3.3 years versus 4.5 years; five lease terminations of the single tenant that will materialise on short notice, with some needing redevelopment; reduced market rents; updated re-letting assumptions/lease renewal probabilities and a more detailed analvsis of areas.