Avoca CLO XVII PLC: 09 December 2016

The assets securing the notes will consist of a portfolio of senior loans, senior secured bonds, corporate rescue loans, mezzanine obligations and high yield bonds, and will be managed by KKR Credit Advisors (Ireland).

The notes will be offered by the issuer through Morgan Stanley in its capacity as initial purchaser of the offering of the notes.

CRR 405: The Investment Manager shall act as the Retention Holder and will, for so long as any class of rated notes remains outstanding, undertake on an ongoing basis to retain a net economic interest in the transaction, which will be comprised of an interest in the first loss tranche equal to an amount not less than 5% of the aggregate collateral balance