BlackRock European CLO II (2nd Refinance): 23 April 2021

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

On 15 December 2016 (the Original Issue Date) BlackRock European CLO II issued Class A Senior Secured Floating Rate Notes due 2030, Class B Senior Secured Floating Rate Notes due 2030, Class C Senior Secured Deferrable Floating Rate Notes due 2030, Class D Senior Secured Deferrable Floating Rate Notes due 2030, Class E Senior Secured Deferrable Floating Rate Notes due 2030, Class F Senior Secured Deferrable Floating Rate Notes due 2030 and Subordinated Notes due 2030.

On 15 July 2019 (the 2019 Refinancing Date) the Issuer refinanced the Original Class A Notes, the Original Class B Notes, the Original Class C Notes, the Original Class D Notes and the Original Class E Notes.

On 15 April 2021 (the Issue Date) the Issuer will, subject to certain conditions, refinance the 2019 Class A Notes, the 2019 Class B Notes, the 2019 Class C Notes, the 2019 Class D Notes, the 2019 Class E Notes and the Original Class F Notes. The Subordinated Notes were issued on the Original Issue Date and are not being offered pursuant to this re-financing.

The Offered Notes are being offered by the Issuer through Credit Suisse Securities (Europe) Limited) in its capacity as sole arranger and initial purchaser.

The Collateral Manager, as Retention Holder, intends to hold the requisite risk retention in its capacity as “originator” for the purposes of the Retention Requirements as at the Issue Date.

EU Risk Retention: The Retention Holder will, for so long as any Class of Debt remains outstanding, on the Issue Date, subscribe for and hold on an ongoing basis not less than 5% of the nominal value of each of the tranches of Rated Debt and will continue to hold, on an ongoing basis, not less than 5% of the nominal value of the Subordinated Notes.