Tag Archives: Liquidity Facility

The Liquidity Eclipse

As was common at the time of the inception of the transaction, Danske Bank A/S (Danske) had provided a liquidity facility (LF) on a commercial mortgage-backed securitisation issued by the issuer, Gemini (Eclipse 2006-3) plc (Gemini).  Due to the subsequent plethora of downgrades that have followed the financial crisis (from which the liquidity facility provider … Continue Reading