BlackRock European CLO I (Reissue): 17 March 2018

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.

On the Original Issue Date, the Issuer issued Class A-1 Senior Secured Floating Rate Notes due 2029, Class A-2 Senior Secured Fixed Rate Notes due 2029, Class B-1 Senior Secured Floating Rate Notes due 2029, Class B-2 Senior Secured Fixed Rate Notes due 2029, Class C Senior Secured Deferrable Floating Rate Notes due 2029, Class D Senior Secured Deferrable Floating Rate Notes due 2029, Class E Senior Secured Deferrable Floating Rate Notes due 2029, and Subordinated Notes due 2029.

On or about 15 March 2018 (the Issue Date), the Issuer will, subject to certain conditions, refinance the Refinanced Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2031, Class B-1-R Senior Secured Floating Rate Notes due 2031, Class B-2-R Senior Secured Fixed Rate Notes due 2031, Class C-R Senior Secured Deferrable Floating Rate Notes due 2031, Class D-R Senior Secured Deferrable Floating Rate Notes due 2031, Class E-R Senior Secured Deferrable Floating Rate Notes due 2031, and Class F-R Senior Secured Deferrable Floating Rate Notes 2031.The Refinanced Notes will be redeemed in full on the Issue Date from the proceeds of the issue of the Refinancing Notes.