Logiclane II Euro CLO DAC: 01 May 2025
The assets securing the Notes will consist of a portfolio of primarily Senior Secured Loans, Senior Secured Bonds, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by Acer Tree Investment Management LLP.
Eligibility Criteria (includes): it is a Senior Secured Loan, a 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 or a Bridge Loan, provided that such asset shall not be in the form of a Bond or Note until the occurrence of the Authorisation Date; it is not a Structured Finance Security, pre-funded letter of credit or a Synthetic Security; it is not a Zero Coupon Obligation; other than in the case of Corporate Rescue Loans or Uptier Priming Debt, it has a S&P Rating of not lower than “CCC-” and a Fitch Rating of not lower than “CCC-”; it is not a Project Finance Loan; it has a minimum purchase price of 60.0% of the Principal Balance of such Collateral Debt Obligation.
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 €360mln, which is approximately 90.0% of the Target Par Amount.
The Notes are being offered by the Issuer through NATIXIS, in its capacity as sole arranger and initial purchaser of the offering of such Notes subject to prior sale.
EU & UK Risk Retention: Acer Tree Loan Management will subscribe for on the Issue Date and retain, in its capacity as originator, on an ongoing basis and for its own account, for so long as any Class of Notes remains outstanding, a material net economic interest in the transaction comprising not less than 5% of each Class of Notes, in connection with the EU/UK Retention Requirements.
US Risk Retention: It is believed that the US Risk Retention Rules do not apply to this transaction, however the Retention Holder will also retain the Retention Notes to satisfy the US Risk Retention Rules.