Programme State
3/5 Series closed - 1 in execution - 1 pending
Reference Deployed
£60B
of £100B target
Reserve Funded
£0.9B
of £1.5B cumulative
Fund CLN Position
£6.0B
10% of closed Series
YTD Fee Received
£250M
Into Fund waterfall
DEER YTD Take-Home
£120M
60 bps capture
Reconciliation
All Match
3 Series × 3 periods
S1
Closed / Status
Mon 1 Jun 2026
CLOSED
S2
Closed / Status
Mon 22 Jun 2026
CLOSED
S3
Closed / Status
Mon 13 Jul 2026
CLOSED
S4
Closed / Status
In execution - rated notes pricing w/c 10 Aug
IN EXECUTION
S5
Closed / Status
Pending - pool composition TBD at Bank's election
PENDING
Upcoming Trustee Reports
U.S. Bank Global Corporate Trust - London
Next expected uploads to DEER OS from U.S. Bank for reconciliation review:
S1
Monthly covenant & reserve report - November 2026
Due Thu 5 Nov 2026
S2
Monthly covenant & reserve report - November 2026
Due Thu 5 Nov 2026
S3
Monthly covenant & reserve report - November 2026
Due Thu 5 Nov 2026
S1
Q4 2026 fee distribution statement
Due Fri 31 Dec 2026
S1-S3
Rating agency surveillance package - Year 1
Due Mon 1 Jun 2027