Willow Park CLO: 30 November 2017
The assets securing the notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Blackstone / GSO Debt Funds Management Europe Limited.
Eligibility criteria (includes): it is a Secured Senior Obligation (which may include a PIK Security), a Corporate Rescue Loan, an Unsecured Senior Obligation, a Mezzanine Obligation (which may include a PIK Security), a Second Lien Loan (which may include a PIK Security) or a High Yield Bond; it is not a Defaulted Obligation, a Credit Risk Obligation or Equity Security, including any obligation convertible into an Equity Security; it is not a lease; it is not a Structured Finance Security, a Letter of Credit or a Synthetic Security; it is not a Zero Coupon Security, Step-Up Coupon Security or Step-Down Coupon Security; 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 of 60.0%.
The Issuer anticipates that, by the Issue Date, it will have purchased or committed to purchase Collateral Obligations representing approximately 78.0% of the Target Par Amount.
The notes are being offered by the Issuer through Deutsche Bank AG, London Branch in its capacity as initial purchaser of such notes.
CRR 405: In accordance with the Retention Requirements, Blackstone / GSO Corporate Funding, in its capacity as the originator, will undertake that on the Issue Date it will acquire and hold on an ongoing basis, for so long as any Class of Notes remains outstanding, Subordinated Notes with an original Principal Amount Outstanding multiplied by the Issue Price at which such Subordinated Notes were purchased by BGCF (such original Principal Amount Outstanding as calculated as of the date of issuance of such Subordinated Notes) which is equal to or greater than 5% of the greater of the Target Par Amount and the Collateral Principal Amount on the relevant date of determination.
US Risk Retention: 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.