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Halcyon Loan Advisors European Funding 2017-1: 17 July 2017


The assets securing the Notes will consist of a portfolio of primarily Senior Loans, Secured Senior Bonds, High Yield Bonds and Mezzanine Obligations, and will be managed by Halcyon Loan Advisors (UK) LLP.

Eligibility criteria (includes): it is a Secured Senior Loan, a Secured Senior Bond, a Corporate Rescue Loan, an Unsecured Senior Obligation, a Mezzanine Obligation, a Second Lien Loan or a High Yield Bond; it is not a lease; it is not a Zero Coupon Obligation, nor is it a Letter of Credit; other than in the case of Corporate Rescue Loans, it is an obligation which has a Moody’s Rating of "Caa3" or higher and an S&P Rating of "CCC" or higher; it is not a Project Finance Loan; it is not a Step-Down Coupon Obligation or a Step-Up Coupon Obligation.


CRR: In accordance with the EU Retention Requirements, the Collateral Manager, in its capacity as the Retention Holder, will undertake to subscribe and retain a material net economic interest of not less than 5% of the Principal Amount Outstanding of each Class of Notes.

The Collateral Manager does not intend to retain a risk retention interest contemplated by the U.S. Risk Retention Rules in connection with the transaction described within the Offering Circular, or the Notes, in reliance on the Foreign Safe Harbour.

The Collateral Manager intends to rely on an exemption provided for in Section __.20 of the U.S. Risk Retention Rules regarding non-U.S. transactions that meet certain requirements.