BlackRock European CLO II: 17 December 2016

The second in the series, where the assets securing the notes will consist of a portfolio of primarily Senior Loans, Senior Secured Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by BlackRock Investment Management (UK) Limited.

Eligibility criteria (includes): it is a Senior Secured Loan, a Senior Secured Bond, an Unsecured Senior Loan, a Mezzanine Obligation, a Second Lien Loan, a Corporate Rescue Loan or a High Yield Bond; it is (i) denominated in Euro or (ii) denominated in a Qualifying Currency; it is not a Structured Finance Security, letter of credit or a Synthetic Security; it is not a Project Finance Loan; if it is a Revolving Obligation or Delayed Drawdown Collateral Debt Obligation, it can only be drawn in Euro.

The issuer anticipates that, by the issue date, it or the Collateral Manager on its behalf will have purchased or committed to purchase Collateral Debt Obligations, the aggregate principal balance of which is equal to at least €260mln, which is approximately 65% of the Target Par Amount.


CRR 405: On the issue date, the Collateral Manager, in its capacity as Retention Holder will undertake to subscribe for and hold on an ongoing basis, as sponsor, not less than 5% of the nominal value of each of the tranches sold or transferred to investors within the meaning of paragraph 1(a) of Article 405 of the CRR.