The team Portfolio Analysis is available for questions regarding outstanding pbb securitisation transactions.

Main Features of ESTATE UK-3

Initial Principal Balance

GBP 596,127,557

Closing Date

February 28, 2007

Instruments employed

GBP 482,447,557 Credit Default Swap
GBP 113,680,000 Credit Linked Notes
(CLNs; 6 Classes)

Issuer and Arranger

Hypo Real Estate Bank International AG

Reference Pool

13 UK Commercial Mortgage Loans 

Reference Pool Quality

110 Commercial properties located in the UK
Maximum principal of a single loan GBP 175,7 m
Secured by first ranking mortgages

Collateral for Noteholder

Collateral for Noteholders All CLNs are secured by
Öffentliche Pfandbriefe of Hypo Real Estate
Bank International AG, Class A1+ and
Class A2 CLNs are additionally secured by Cash
Collateral; downgrade provisions are in place


All CLNs by Moody's and Standard and Poor's 
Credit Default Swap by Moody's


All CLNs at the Luxembourg Stock Exchange 

For more information, please visit the rating agency websites:

Information Regarding Expert Procedure (updated on 22 January 2020)
As part of the ESTATE UK-3 transaction, Deloitte GmbH Wirtschaftsprüfungsgesellschaft (Deloitte) represents the interests of the investors as a Trustee. Deloitte has informed Deutsche Pfandbriefbank AG that, under certain conditions, it will allow the noteholders of the transaction ESTATE UK-3 to view the Expert's report ("Bericht") to the written certificate from 28 June 2019, which the Expert issued pursuant to Clause 15(6) of the Trust Agreement.
For this purpose, the Trustee has set up a virtual data room. The inspection requires prior registration via and is subject to the conditions specified by the Trustee during the registration process.

Regular Reports
According to Section 14 of the Terms & Conditions, the Issuer provides different kinds of reports. The reports are checked by the Trustee (according to the provisions of the Trust Agreement). The Issuer then supplies reports to the Noteholders.

With respect to each Payment Date, the Bank provides the following Payment Date Reports

Direct Contact

Petra Schwab
Portfolio Analysis

Tel +49 89 28 80 0
Fax +49 89 28 80 10 319
Contact via E-Mail