Oak Hill European Credit Partners - V: 27 January 2017

The assets securing the notes will consist of a portfolio of Senior Secured Loans, Senior Secured Bonds, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by Oak Hill Advisors (Europe) LLP.

The Collateral Manager is a subsidiary of Oak Hill Advisors LP, a Delaware limited partnership. Formed in July 2005, the Collateral Manager received authorisation by the UK Financial Services Authority with respect to the provision of investment products and services, including acting as collateral manager on collateralised debt obligations transactions, in January 2006. Oak Hill Advisors and its affiliates, including the Collateral Manager, provide portfolio management for issuers of collateralised debt obligations and other investment funds, as well as for business and institutional clients. They also provide capital markets advisory services.

Eligibility criteria (includes): it is a Senior Secured Loan, Senior Secured Bond, an Senior Unsecured Obligation, a Corporate Rescue Loan, a Mezzanine Obligation, a Second Lien Loan or a High Yield Bond, a PIK Obligation, a Current Pay Obligation or a Bridge Loan; it is not a Defaulted Obligation or a Credit Impaired Obligation; it is not a lease; it is not a Structured Finance Security, pre-funded letter of credit or a Synthetic Security; it is not a Zero Coupon Obligation, Step-Up Coupon Security or Step-Down Coupon Security; is not an obligation of an Obligor or Obligors Domiciled in a country with a Moody’s local currency country risk ceiling of “Baa1” or below; it is not a Project Finance Loan; it is not a Small Obligor Loan.

The Issuer anticipates that, by the Issue Date, it will have purchased or committed to purchase Collateral Debt Obligations, the Aggregate Principal Balance of which is equal to at least Eur257mln which is approximately 56.0% of the Target Par Amount.


CRR 405: Under the Retention Letter, the Retention Holder (Oak Hill Advisors (Europe) LLP) will undertake and agree, with effect on and from the Issue Date, to subscribe for (at the initial issuance and each subsequent date of additional issuance of Notes) and retain, on an ongoing basis and for its own account, a material net economic interest in the transaction which will be comprised of not less than 5.0% of the nominal value of each Class of Notes.


Compare/contrast: Oak Hill European Credit Partners – IV