Dryden 56 Euro CLO 2017: 26 December 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 Limited.
Eligibility criteria (includes): it would be a Secured Senior Loan, a Secured Senior Bond, a Corporate Rescue Loan, an Unsecured Senior Obligation, a High Yield Bond, a Mezzanine Obligation, a PIK Obligation, a Current Pay Obligation or a Second Lien Loan; it is (I) denominated in Euro or (II) denominated in a Qualifying Currency other than Euro; it is not a lease (including a financial lease); it is not a Structured Finance Obligation, Synthetic Security or Letter of Credit or any other asset backed security; it is not a Step-Down Coupon Security; it is not a Zero Coupon Obligation; it is not a Project Finance Loan.
CRR 405: The Retention Holder will agree that for so long as any Class of Notes remains Outstanding it will hold on an ongoing basis not less than 5% of the outstanding nominal value of each of the tranches sold or transferred to investors, with the intention of complying with the EU Retention Requirements.
US 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 by the U.S. Risk Retention Rules, 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".