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Halcyon Loan Advisors European Funding 2017-2: 23 December 2017


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

The Notes are being offered by the Issuer through BNP Paribas in its capacity as Initial Purchaser of the Notes. 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 Structured Finance Security or a Synthetic Security; it is not a Defaulted Obligation or a Credit Risk Obligation; it is not a lease; it is not a Zero Coupon Obligation; 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; it has a minimum purchase price of 60.0 per cent of the principal balance of such obligation.

The Issuer anticipates that, by the Issue Date, it will have purchased or committed to purchase Collateral Obligations the Aggregate Principal Balance of which is equal to at least €243,750,000, which is approximately 75% of the Target Par Amount.

CRR 405: The Collateral Manager, in its capacity as the Retention Holder, will undertake to subscribe from the Initial Purchaser and retain a material net economic interest of not less than 5% of the Principal Amount Outstanding of each Class of Notes by subscribing for and holding, on an ongoing basis, and for so long as any Notes are Outstanding, no less than 5% of the Principal Amount Outstanding of each Class of Notes.

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.