Karta APC Limited
Deutsche Bank
Asset Backed Certificates
June 12, 2009 Transfer Date
Table of Contents
External Parties
Lead Managers
1. Current Distributions
2. Collections and Distribution Amounts
3. Payment Priorities
4. Portfolio Information
5. Account Information
6. Other Related Information
Deutsche Bank
Merrill Lynch
EFG Telesis Finance S.A
Page
2
4
6
7
11
14
Servicer
EFG Eurobank Ergasias S.A.
Total Number of Pages
Dates
Closing Date
Monthly Transfer Date
July 29, 2005
June 12, 2009
Distribution Date
July 15, 2009
Interest Period[Start]
Interest Period[End]
Actual Number of Days
Page 1 of 14
Contacts
May 15, 2009
June 14, 2009
31
Stephanie Macdonald
Relationship Manager
Phone: 44-207-545-3140
44-207-547-5919
Fax:
[email protected]
Address:
Winchester House
1 Great Winchester Street
London, EC2N 2DB
14
Karta APC Limited
Deutsche Bank
Asset Backed Certificates
June 12, 2009 Transfer Date
Current Distributions
Current Period Distribution
Class
ISIN
A
B
C
LRN_A
LRN_B
LRN_C
Ccy
XS0224407212
XS0224407568
XS0224408020
€
€
€
€
€
€
Original
Principal
Balance
592,500,000.00
75,000,000.00
82,500,000.00
592,500,000.00
75,000,000.00
82,500,000.00
Beginning
Principal
Balance
Interest
(1)
(2)
592,500,000.00
75,000,000.00
82,500,000.00
592,500,000.00
75,000,000.00
82,500,000.00
Principal
Total
Distribution
Beginning
Pool
Factor
Ending
Pool
Factor
Ending
Principal
Balance
(3)
(4)=(2)+(3)
(5)
(6)
(7)=(1)-(3)
1.0000000
1.0000000
1.0000000
1.0000000
1.0000000
1.0000000
592,500,000.00
75,000,000.00
82,500,000.00
592,500,000.00
75,000,000.00
82,500,000.00
0.00
0.00
0.00
808,680.21
113,343.75
144,569.79
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
808,680.21
113,343.75
144,569.79
1.0000000
1.0000000
1.0000000
1.0000000
1.0000000
1.0000000
Interest Accrual Detail
Class
DaysMethod Index
(1)
A
B
C
LRN_A
LRN_B
LRN_C
91
91
91
31
31
31
Act/360
Act/360
Act/360
Act/360
Act/360
Act/360
1.43500%
1.43500%
1.43500%
1.43500%
1.43500%
1.43500%
Margin
Interest
Rate
(2)
(3) = (1) + (2)
0.15000%
0.32000%
0.60000%
0.15000%
0.32000%
0.60000%
1.58500%
1.75500%
2.03500%
1.58500%
1.75500%
2.03500%
Beginning (with
Notional) Principal
Balance
592,500,000.00
75,000,000.00
82,500,000.00
592,500,000.00
75,000,000.00
82,500,000.00
Unpaid
Interest
Accrued
Interest
Interest
Due
Interest
Paid
Current
Unpaid
Interest
(4)
(5)
(6) = (4) + (5)
(7)
(8) = (6) - (7)
Prior
0.00
0.00
0.00
0.00
0.00
0.00
Total
0.00
0.00
0.00
808,680.21
113,343.75
144,569.79
0.00
0.00
0.00
808,680.21
113,343.75
144,569.79
0.00
0.00
0.00
808,680.21
113,343.75
144,569.79
Credit Enhancements
Original Tranche Size
Tranche Size
Tranche as a % of Total
Principal Payment
Credit Enhancement due to Subordination
Credit Enhancement from Spread Account and
Total Credit Enhancement
Page 2 of 14
Senior
Mezzanine
Junior
€592,500,000.00
€592,500,000.00
79.00%
€0.00
21.00%
2.50%
23.50%
€75,000,000.00
€75,000,000.00
10.00%
€0.00
11.00%
2.50%
13.50%
€82,500,000.00
€82,500,000.00
11.00%
€0.00
0.00%
3.00%
3.00%
0.00
0.00
0.00
0.00
0.00
0.00
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Key Transaction Statistics
Total number of Designated Accounts in Portfolio
Total Principal Receivables Outstanding in Portfolio at end of Related Monthly Period
€965,420,256.33
Transferor Deferred Purchase Price Amount at end of Related Monthly Period
€215,420,256.33
Series 2005-1 Floating Investor Percentage with respect to the related Monthly Period
59.97%
Series 2005-1 SeniorFloating Percentage with respect to the related Monthly Period
79.00%
Series 2005-1 Mezzanine Floating Percentage with respect to the related Monthly Period
10.00%
Series 2005-1 Junior Floating Percentage with respect to the related Monthly Period
11.00%
Series 2005-1 Fixed Investor Percentage with respect to the related Monthly Period
77.10%
Series 2005-1 Cash Collateral Account Amount as % of Adjusted Investor Interest
3.21%
Series 2005-1 Spread Account Amount as % of Adjusted Investor Interest
0.64%
Current long-term rating of EFG Eurobank: - Rating(S/M/F) BBB+/A1/A
Current short-term rating of EFG Eurobank: - Rating(S/M/F) A-2/P-1/F1
Page 3 of 14
838,656
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Collections and Distribution Amounts
Calculations for Related Monthly Period
New Principal Receivables sold to APC during Related Monthly Period
New Principal Receivables transferred during Related Monthly Period
€54,387,930.59
Collections during Related Monthly Period
[i] Total unprocessed Collectioons during Related monthly period
[ii] Amounts previously incorrectly forwarded to the APC control account
[iii] Total processed Collections during the related Monthly Period including Recoveries
[a] thereof Recoveries
€72,152,736.46
€185,208.97
€73,270,775.47
€427,041.52
[b] thereof Principal Collections processed during the Related Monthly Period
€58,051,532.57
[c] thereof Finance Charge Collections processed (excl. Recoveries)
€14,792,201.38
Series Available Funds for Related Monthly Period
[i] Investor Finance Charge Collections
[ii] Principal Funding Investment Proceeds
€8,870,883.17
€83,935.24
[iii] Amounts withdrawn from Karta APC Reserve Account
€0.00
[iv] Amounts withdrawn from Karta APC Spread Account
€0.00
[v] Amounts withdrawn from Karta APC Cash Collateral Account
€0.00
Total Series Available Funds
€8,954,818.41
Investor Default Amounts
[i] The Aggregate Investor Default Amount
€1,768,623.93
[ii] Class A Investor Default Amount for the Related Monthly Period
€1,397,212.91
[iii] Class B Investor Default Amount for the Related Monthly Period
€176,862.39
[iv] Class C Investor Default Amount for the Related Monthly Period
€194,548.63
[v] Default Amount allocated to Transferor Deferred Purchase Price Amount
€1,180,557.22
Series 2005-1 Investor Charge-offs
Page 4 of 14
[i] Class A Investor Charge-offs for the Related Monthly Period
€0.00
[ii] Class B Investor Charge offs for the Related Monthly Period
€0.00
[iii] Class C Investor Charge offs for the Related Monthly Period
€0.00
[iv] Class A Investor Charge-offs reinstated on the Related Transfer Date
€0.00
[v] Class B Investor Charge-offs reinstated on the Related Transfer Date
€0.00
[vi] Class C Investor Charge-offs reinstated on the Related Transfer Date
€0.00
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Reallocations
Page 5 of 14
[i] The amount of Reallocated Mezzanine Principal Collections with respect to the Related Transfer Date
€0.00
[ii] The amount of Reallocated Junior Principal Collections with respect to the Related Transfer Date
€0.00
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Payment Priorities
Series 2005-1 Payment Priorities
[i] The Series Levy 128 Amounts, and the Series Senior Costs Amount
[a] thereof Series Levy 128 Amount
[b] thereof Series Senior Costs Amount
[ii] Series 2005-1 Investor Servicing Fee
€297,461.31
€5,666.67
€5,877.51
[iii] Investor Senior Monthly Distribution Amount
€808,680.21
[a] thereof Senior Monthly Finance Amount
€808,680.21
[b] thereof Senior Deficiency Amount
€0.00
[c] thereof Senior Additional Finance Amount
€0.00
[iv] Investor Mezzanine Monthly Distribution Amount
€113,343.75
[a] thereof Mezzanine Monthly Finance Amount
€113,343.75
[b] thereof Mezzanine Deficiency Amount
€0.00
[c] thereof Mezzanine Additional Finance Amount
€0.00
[v] Investor Senior Default Amount
[vi] Investor Senior Charge-off Amount
[vii] Investor Mezzanine Default Amount
[viii] Investor Mezzanine Charge-Off Amount
€1,397,212.91
€0.00
€176,862.39
€0.00
[ix] Investor Junior Monthly Distribution Amount
€144,569.79
[a] thereof Junior Monthly Finance Amount
€144,569.79
[b] thereof Junior Deficiency Amount
€0.00
[c] thereof Junior Additional Finance Amount
€0.00
[x] Investor Junior Default Amount
€194,548.63
[xi] Investor Junior Charge-off Amount
€0.00
[xii] Amounts deposited into the Series 2005-1 Reserve Account
€0.00
[xiii] Amounts deposited into the Series 2005-1 Available Required Liquidity Amount
€0.00
[xiv] Amounts deposited into the Series 2005-1 Cash Collateral Account
€0.00
[xv] Amounts deposited into the Series 2005-1 Spread Account
€0.00
[xvi] Series 2005-1 Junior Expenses
[a] thereof Karta LNI Profit Amount and Issuer Profit Amount
€5,166.67
€5,166.67
[b] thereof Interest and Principal payments on Expenses Loan
€0.00
[c] thereof Interest and Principal payments on Subordinated Loan
€0.00
[d] thereof Additional Junior Expenses
€0.00
[xvii] Amounts equal to the balance of the Series Available Funds remaining after (i) to (xvi)
Total Amounts Distributed
Page 6 of 14
€303,127.98
€5,805,428.57
€8,954,818.41
Karta APC Limited
Deutsche Bank
Asset Backed Certificates
June 12, 2009 Transfer Date
Portfolio Information
Portfolio Delinquency Balances
Current Accounts
1- 29 days
30 - 59 days:
60 - 89 days:
90 - 119 days:
120 - 149 days:
150 - 170 days:
180 - 209 days:
210 - 239 days:
240 - 269 days:
270 - 299 days:
300 - 329 days:
330 - 359 days:
360 + days:
Total
Total Amount
Percentage
€716,659,509.00
€134,361,055.32
€33,797,233.83
€17,729,754.35
€12,540,297.75
€9,548,393.20
€8,483,254.04
€6,946,813.97
€9,236,663.42
€1,361,189.90
€4,205,596.10
€4,054,545.70
€3,436,676.35
€3,059,273.40
€965,420,256.33
74.23%
13.92%
3.50%
1.84%
1.30%
0.99%
0.88%
0.72%
0.96%
0.14%
0.44%
0.42%
0.36%
0.32%
100.00%
Series 2005-1 Yield
Series 2005-1 Finance Charge Collections
Series 2005-1 Principal Funding Investment Proceeds
Series 2005-1 Reserve Draw Amount
€8,870,883.17
€83,935.24
€0.00
Amount drawn from:
Karta Series 2005-1 APC Spread Account
€0.00
Karta Series 2005-1 Cash Collateral Account
€0.00
less Investor Default Amount attributable to Series 2005-1
€1,768,623.93
Total
€7,186,194.48
Series 2005-1 Investor Interest
€750,000,000.00
Net Portfolio Yield (definition of Offering Circular)
11.13%
Gross Porfolio Yield (not net of defaults)
13.87%
Last 3 months average gross yield
15.42%
Page 7 of 14
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Receivables Pool Information
Calculation of balances at the end of the Monthly Period
[i] Total Receivables in APC reported at beginning of Related Monthly Period
[ii] Total New Principal Receivables during the Monthly Period
€972,723,512.59
€54,387,930.59
[iii] Dilutions during the Related Monthly Period
€1,808,512.13
[iv] Total Default Amount during related Monthly Period
€2,949,181.16
Month-end reported total Receivables at Karta APC
€965,420,256.33
thereof Investor interest
€750,000,000.00
thereof Transferor Deferred Purchase Price Amount
€215,420,256.33
Transferor Ineligible Deferred Purchase Price Amount
€0.00
Number of accounts as at end of Related Monthly Period:
Total number of Designated Accounts
thereof total charged off accounts (cumulative)
thereof total number of Designated accounts with SCL loan
838,656
839
0
Set-off amount as at 29th July 2005:
Set-off amount related to deposit amounts
Page 8 of 14
€55,576,609.92
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Enhancement Accounts
Series 2005-1 Reserve Account
Available Reserve Account Amount at end of the Related Monthly Period
€2,962,500.00
Required Reserve Account Amount for the Related Monthly Period
€2,962,500.00
Addition/withdrawal to Reserve Account during the Related Monthly Period
Closing Balance as at cob of Transfer Date
€0.00
€2,962,500.00
Series 2005-1 Spread Account
Available Spread Account Amount at end of the Related Monthly Period
€3,750,000.00
Required Spread Account Amount for the Related Monthly Period
€3,750,000.00
Addition/withdrawal to Spread Account during the Related Monthly Period
Closing Balance as at cob of Transfer Date
€0.00
€3,750,000.00
Series 2005-1 Cash Collateral Account
Available Cash Collateral Account Amount at end of the Related Monthly Period
€18,750,000.00
Required Cash Collateral Account Amount for the Related Monthly Period
€18,750,000.00
Addition/withdrawal to Cash Collateral Account during the Related Monthly Period
Closing Balance as at cob of Transfer Date
Page 9 of 14
€0.00
€18,750,000.00
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Performance Ratios
Series 2005-1 Expense Rate
Series 2005-1 Monthly Required Expense Amount for Junior, Mezzanine and Senior Class
Portion of Annual Expenses
Series 2005-1 Levy 128 Amount
Total Series 2005-1 Expenses
€1,072,260.42
€31,162.67
€297,461.31
€1,400,884.40
Series 2005-1 Expense Rate
2.17%
Last 3 months average expense rate
2.60%
Series 2005-1 Excess Spread Percentage
Series 2005-1 Excess Spread as a percentage of Series 2005-1 Investor Interest
9.11%
Last 3 months average Series 2005-1 Excess Spread percentage
8.36%
Series 2005-1 Available Spread Percentage*
Series 2005-1 Available Spread Percentage for the Related Monthly Period
11.70%
Last 3 months average Series 2005-1 Available Spread Percentage
10.03%
Series 2005-1 Charge off percentage (defaults)*
Series 2005-1 Charge off percentage
3.60%
Charge offs on lagged basis (lagged by 12 months principal balance)
0.00%
Last 3 months average Charge off percentage (defaults)
5.65%
Portfolio Payment Rate
Principal Payment Rate (Principal Collections/Receivables at beginning of Period)
5.97%
Last 3 months average Principal Payment Rate
6.19%
Total Payment Rate (Total Collections at the beginning of Related Monthly Period)
7.49%
Last 3 months average Total Payment Rate
7.74%
*See Calculation on Page14
Page 10 of 14
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Account Information
Account Balances-end of Monthly Period
Karta APC Accounts
Karta APC Deposit Account
€0.00
Karta APC Control Account
€26,707,718.22
Karta APC Collection Account
€66,276,660.38
thereof Retained Principal Collection Ledger
€44,757,731.60
thereof Retained Finance Charge Collection Ledger
€21,774,741.91
Karta Series 2005-1 APC Reserve Account
Karta Series 2005-1 APC Cash Collateral Account
thereof Required Liquidity Amount Ledger
Karta APC Finance Funding Account- Series 2005-1 Ledger
Karta APC Principal Funding Account - Series 2005-1
thereof Advance Deposits Ledger
Karta APC Spread Account - Series 2005-1
€2,962,500.00
€18,750,000.00
€0.00
€0.00
€166,666,666.64
€0.00
€3,750,000.00
Karta LNI Accounts
Series 2005-1 Investor Distribution Account
€249,422.32
Karta Issuer Accounts
Series 2005-1 Issuer Distribution Account
€444,276.96
Loans outstanding (balance outstanding as at end of Calculation Date)
Expenses Loan
€0.00
Subordinated Loan
€0.00
Application of amounts credited to Karta APC Spread Account
Available Spread Account Amount after application towards Series 2005-1 Available Funds
€0.00
On the Junior Release Date, an amount up to the Available Spread Account amount equal to the excess, if any, of the
€0.00
Junior Debt amount over the Junior Investor Interest
Page 11 of 14
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Application of amounts credited to the Series 2005-1 Principal Funding Ledger
€208,333,333.30
Amount to be credited to the Series 2005-1 Principal Funding Account identified for Class A
€208,333,333.30
Amount to be credited to the Series 2005-1 Principal Funding Account identified for Class B
€0.00
Amount to be credited to the Series 2005-1 Principal Funding Account identified for Class C
€0.00
Distribution and Accumulation Information
Current Monthly Accumulations
Finance Amounts
Senior Monthly Finance Amount deposited into the Finance Funding Account
€808,680.21
Mezzanine Monthly Finance Amount deposited into the Finance Funding Account
€113,343.75
Junior Monthly Finance Amount deposited into the Finance Funding Account
€144,569.79
Deficiency Amounts
Senior Monthly Deficiency Amount deposited into the Finance Funding Account
€0.00
Mezzanine Monthly Deficiency Amount deposited into the Finance Funding Account
€0.00
Junior Monthly Deficiency Amount deposited into the Finance Funding Account
€0.00
Additional Finance Amounts
Senior Monthly Additional Finance Amount deposited into the Finance Funding Account
€0.00
Mezzanine Monthly Additional Finance Amount deposited into the Finance Funding Account
€0.00
Junior Monthly Additional Finance Amount deposited into the Finance Funding Account
€0.00
Quarterly Distribution
Distribution in respect of the Senior Quarterly Finance Amount
€0.00
Distribution in respect of the Mezzanine Quarterly Finance Amount
€0.00
Distribution in respect of the Junior Quarterly Finance Amount
€0.00
Page 12 of 14
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Minimum Transferor Deferred Purchase Price Amount
Total Minimum Transferor Deferred Prurchase amount to cover Dilutions and Fraud
€75,000,000.00
Set off amounts less and amounts in Advance Deposit Ledger (only upon Downgrade Trigger)
€0.00
Total minimum Transferor Deferred Prurchase Price amount to cover cards with SCL Loans
€0.00
Total
30 Day Average Transferor Deferred Purchase Price Amount
€75,000,000.00
€219,612,647.44
Information on Interest Free Instalments
Total unbilled IFIs from delinquent customers at the end of the Related Monthly Period
Total unbilled IFIs from all customers at the end of the Related Monthly Period
Ratio:
Total unbilled IFIs from delinquent customers (6 months average)
Total unbilled IFIs from all customers (6 months average)
Ratio:
Page 13 of 14
€1,413,426.04
€52,200,290.64
2.71%
€1,352,836.27
€57,894,585.20
2.34%
Karta APC Limited
Asset Backed Certificates
Deutsche Bank
June 12, 2009 Transfer Date
Other Related Information
Other Related Information
Series 2005-1 Available Spread Percentage
(a) Series Available Funds remaining after making the allocations provided for in Clauses 13.1.1 to 13.1.11
11.70%
€5,805,428.57
(inclusive) and clause 13.1.16
but excluding amounts paid in respect of the Subordinated Loan Note or the Issuer Expenses Loan Note;
(b) 365 divided by Number of Days in Period
(c) Adjusted Investor Interest on the first day of such Monthly Period
(d) Aggregate amount of unbilled IFIs of Accounts more than 90 days delinquent
(e) Adjusted Investor Interest divided by the Outstanding Face Amount of all Principal Receivables
11.77
€583,333,333.36
€1,403,442.24
59.97%
outstanding at the start of the relevant Monthly Period
Series 2005-1 Charge off percentage (defaults)
Annualised Charge Off - for Period
Total Receivables at end of montlhy period
Series 2005-1 Senior Expenses
3.60%
€2,949,181.16
€965,420,256.33
€5,666.67
(a) Series Investor Costs Amount for the prior Monthly Period;
€0.00
(b) Issuer Costs Amount for the prior Monthly Period;
€0.00
(c) Cash Management Fee notionally referable to Series 2005-1;
€4,375.00
(d) Karta APC Profit Amount payable on the relevant Transfer Date;
€1,291.67
(e)Additional Senior Costs.
€0.00
Series 2005-1 Junior Expenses
€5,166.67
(a) Karta LNI Profit Amount
€1,291.67
(b) Issuer Profit Amount
€3,875.00
(c) Interest and Principal due under Subordinated Loan Agreement
€0.00
(d) Interest and Principal due under Issuer Expenses Loan Agreement
€0.00
(e) Additional Junior Expenses
€0.00
Page 14 of 14