Tikehau CLO V B.V.: 06 September 2019

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 Tikehau Capital Europe Limited.

TCE is a wholly owned subsidiary of Tikehau Capital and, as at 31 March 2018, Tikehau Capital had approximately €14.2 billion of committed assets under management in four areas of expertise: Private Debt, Real Estate, Private Equity and Liquid Strategies. Tikehau Capital has over 200 employees and has offices in Paris, London, Brussels, Milan, Madrid, New York, Seoul and Singapore.

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 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 or Step-Down Coupon Security; other than in the case of Corporate Rescue Loans, it has a Moody’s Rating of not lower than "Caa3" and a Fitch Rating of not lower than "CCC"; is an obligation of an Obligor or Obligors Domiciled in a Non-Emerging Market Country (as determined by the Collateral Manager acting on behalf of the Issuer); it is not a Project Finance Loan; it has a minimum purchase price not less than 60.0% of the Principal Balance.

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 €362,697,370, which is approximately 82.4% of the Target Par Amount.


US Risk Retention: The Collateral Manager has informed the Issuer that the U.S. Risk Retention Rules are not expected to apply to the transactions contemplated and it (or any of its Affiliates) will not be required to retain the Minimum Risk Retention Requirement pursuant to the U.S. Risk Retention Rules.

EU Risk Retention: The Collateral Manager, acting in its capacity as the Retention Holder, will subscribe for on the Issue Date and hold, from the Issue Date, on an ongoing basis, Subordinated Notes with a Principal Amount Outstanding as of the Issue Date equal to or not less than 5%.