Gemini Securitization Corp., LLC (As Of May 2014)
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1 ABCP Portfolio Data: Gemini Securitization Corp., LLC (As Of May 2014) Primary Credit Analyst: Thomas G Dunn, New York (1) ; thomas.dunn@standardandpoors.com Surveillance Credit Analyst: Marc S Perlman, New York (1) ; marc.perlman@standardandpoors.com AUGUST 2,
2 ABCP Portfolio Data: Gemini Securitization Corp., LLC (As Of May 2014) (Editor's Note: This article is being republished to reflect updated data.) The conduit administrator has provided portfolio data as part of Standard & Poor's Ratings Services' ABCP conduit surveillance process. The data for all ABCP programs is presented in a standardized format. For descriptions of abbreviated terms, please refer to the ABCP Table Definitions table at the end of this article. 1. Conduit Profile Description Conduit name Conduit type Support type* Initial rating date Sponsor Administrator Aggregate financing commitment (mil. $) ABCP outstandings (mil. $) Initial ABCP rating Current ABCP rating Portfolio data report date Date conduit report received by S&P Reported PWCE (mil. $) Conduit information Gemini Securitization Corp., LLC Multi-Seller Full 25-Nov-92 Deutsche Bank AG (New York branch) Deutsche Bank AG (New York branch) US$11,217 US$7,045 A-1+ A-1 (sf) May Jul-14 US$547 *Represents whether the program is "fully credit enhanced" or "partially credit enhanced" 2. Conduit Overview May-2014 Apr-2014 Mar-2014 Feb-2014 Jan-2014 Dec-2013 No. of transactions USCP (mil. $) 7,045 6,519 6,356 5,266 5,554 5,503 ECP (mil. $) BT (mil. $) Total ABCP outstandings (mil. $) 7,045 6,519 6,356 5,266 5,554 5,503 Aggregate financing commitment (mil. $) 11,217 10,425 10,274 8,789 8,199 8,153 Capacity utilization (%) AUGUST 2,
3 AUGUST 2,
4 3. Conduit-Level Credit Support May-2014 Apr-2014 Mar-2014 Feb-2014 Jan-2014 Dec-2013 ABCP outstanding (mil. $) 7,045 6,519 6,356 5,266 5,554 5,503 Reported PWCE (mil. $) Reported PWCE support as % of ABCP outstanding Rating-Dependent Support Provider As Of May 2014 The most recent list of rating-dependent support providers for this conduit can be found within the "Participants" tab under the "Conduit Profile" on Global Credit Portal 5. Collateral Concentration As Of May 2014 Collateral type Invested amount (mil. $) % of total invested amount Auto Loans 3, Cdo/Cbo/Clo 1, Student Loans Floorplan Rental Fleet Timeshare Receivables Telecommunications AUGUST 2,
5 5. Collateral Concentration As Of May 2014 (cont.) Middle Market Loans Trade Receivables Cash Small Balance Commercial Capital Call Lines Auto Leases Equipment Lease Credit Card Receivables Structure Settelment 1 0 Total 7, Portfolio Concentration Trends May-2014 Apr-2014 Mar-2014 Feb-2014 Jan-2014 Dec-2013 Total invested amount 7,046 6,516 6,356 5,267 5,554 5,504 Largest transaction invested amount (mil. $) Largest transaction collateral type Auto Loans Auto Loans Auto Loans Auto Loans Auto Loans Auto Loans Largest transaction as % of total invested amount Top three transactions as % of total invested amount Top five transactions as % of total invested amount Top Five Transactions By Invested Amount As Of May 2014 Collateral type Invested amount (mil. $) % of total invested amount Auto Loans Auto Loans Auto Loans Student Loans Auto Loans Total 2, Portfolio Activity Year-To-Date 2014 Collateral type Financing limit (mil. $) Invested amount at entry date (mil. $) Entry/exit date Transactions entering Student Loans Jan 2014 Cdo/Cbo/Clo Feb 2014 Cdo/Cbo/Clo 60 0 Feb 2014 Cdo/Cbo/Clo Feb 2014 Cdo/Cbo/Clo 50 0 Feb 2014 Cdo/Cbo/Clo 55 0 Feb 2014 Auto Loans Mar 2014 Auto Loans Mar 2014 Auto Loans 10 0 Mar 2014 Auto Loans Mar AUGUST 2,
6 8. Portfolio Activity Year-To-Date 2014 (cont.) Auto Loans 10 0 Mar 2014 Auto Loans 10 0 Mar 2014 Auto Loans Mar 2014 Floorplan Mar 2014 Cdo/Cbo/Clo May 2014 Auto Loans May 2014 Cdo/Cbo/Clo May 2014 Auto Loans 10 2 May 2014 Cdo/Cbo/Clo May 2014 Auto Loans May 2014 Total 3,882 1,957 Transactions exiting Middle Market Loans 2 N/A Jan 2014 Student Loans 167 N/A Jan 2014 Student Loans 167 N/A Jan 2014 Student Loans 167 N/A Jan 2014 Credit Card Receivables 18 N/A Jan 2014 Equipment Lease 32 N/A Jan 2014 Servicer Advances 7 N/A Apr 2014 Cdo/Cbo/Clo 0 N/A May 2014 Cdo/Cbo/Clo 250 N/A May 2014 Total 808 N/A Net Change 3,073 N/A *The financing limit is the last recorded amount before exit. The outstanding amount is N/A. 9. Portfolio Composition As Of May 2014 Collateral type Entry date Financing limit (mil. $) Invested amount (mil. $) Utilization (Inv Amount/Fin Limit) (%) Aggregate credit support (%)* Auto Leases Apr Auto Loans Jun Auto Loans Dec Auto Loans Aug Auto Loans Mar Auto Loans Apr Auto Loans Apr Auto Loans Jun Auto Loans Oct , Auto Loans Dec Auto Loans Dec Auto Loans Mar Auto Loans Mar Auto Loans Mar Auto Loans Mar AUGUST 2,
7 9. Portfolio Composition As Of May 2014 (cont.) Auto Loans Mar Auto Loans Mar Auto Loans Mar Auto Loans May Auto Loans May Auto Loans May Capital Call Lines Jan Cash Aug Cdo/Cbo/Clo Jan Cdo/Cbo/Clo Jan Cdo/Cbo/Clo Nov Cdo/Cbo/Clo May Cdo/Cbo/Clo Jun Cdo/Cbo/Clo Nov Cdo/Cbo/Clo Jan Cdo/Cbo/Clo Jan Cdo/Cbo/Clo Dec Cdo/Cbo/Clo Dec Cdo/Cbo/Clo Feb Cdo/Cbo/Clo Feb Cdo/Cbo/Clo Feb Cdo/Cbo/Clo Feb Cdo/Cbo/Clo Feb Cdo/Cbo/Clo May Cdo/Cbo/Clo May Cdo/Cbo/Clo May Credit Card Receivables Feb Credit Card Receivables Oct Credit Card Receivables Aug Equipment Lease Dec Floorplan Mar Floorplan Apr Floorplan Mar Middle Market Loans Sep Middle Market Loans Sep Middle Market Loans May Middle Market Loans Oct Rental Fleet Sep Rental Fleet Nov Rental Fleet Nov Small Balance Commercial Oct Structure Settelment Oct AUGUST 2,
8 9. Portfolio Composition As Of May 2014 (cont.) Student Loans Jun Student Loans Jun Student Loans Jan Telecommunications Dec Timeshare Receivables May Trade Receivables Jun *Includes internal and external credit support 10. ABCP Table Definitions Code ABCP BT ECP N/A PWCE USCP Definition Asset-backed commercial paper Billets de Tresorerie European commercial paper Not applicable Program-wide credit enhancement U.S. commercial paper AUGUST 2,
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