Dryden XXXXXII (Euro CLO 2017): 28 July 2017
The assets securing the Notes will consist primarily of a portfolio of secured senior loans, secured senior bonds, high yield bonds and unsecured senior obligations, and will be managed by PGIM Ltd.
For “Eligibility Criteria” please review the relevant section in the prospectus (available via the www.euroabs.com website).
The Issuer expects that, by the Closing Date, it will have committed to acquire collateral debt obligations with an aggregate principal balance of at least 80% of the target par amount.
The Notes will be offered by the Issuer through Goldman Sachs International in its capacity as placement agent.
CRR 405: Under the EU Risk Retention letter, the retention holder will, on the Closing Date, undertake to subscribe for and hold on an ongoing basis, as sponsor, not less than 5% of the nominal value of each of the tranches sold or transferred to investors, for so long as any Class of Notes remains outstanding.
U.S Risk retention: The Retention Holder (the Collateral Manager) will on the Closing Date subscribe for, and intends to hold for as long as is required, not less than 5% of the outstanding principal amount of each Class of Notes, with the intention of complying with the requirements for retaining an “eligible vertical interest” under U.S Risk Retention rules.