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Rockford Tower CLO 2017-3: 27 December 2017

The notes will be secured by a portfolio of assets to be managed by Rockford Tower Capital Management, L.L.C. consisting primarily of senior secured loans and, subject to any limitations described in the prospectus, second lien loans and senior unsecured loans.

RTCM is a limited liability company affiliated with King Street Capital Management, L.P. Pursuant to the terms of the Staff and Services Agreement, RTCM has engaged KSCM to provide (or cause one or more of its Affiliates to provide) it with certain personnel, facilities, systems and services in conducting collateral management activities. KSCM was founded in 1995 and has approximately $18.8 billion of assets under management as of 1 October 2017.

Eligibility criteria (includes): is US$ denominated and is neither convertible by the obligor thereon or the issuer thereof into, nor payable in, any other currency; is not (A) a Defaulted Obligation or (B) a Credit Risk Obligation unless, in either case, it is being acquired through a Distressed Exchange; is not a lease or a finance lease; is not an Interest Only Security or Step-Down Obligation; has an S&P Rating or a Moody’s Rating; is not a Related Obligation, a Zero Coupon Obligation, a Small Obligor Loan or a Structured Finance Obligation; is not a Synthetic Security; is not a Sponsor Loan.

It is anticipated that the Issuer will have completed the purchase (on a trade date basis) of at least 90% (by principal amount) of the initial portfolio of Collateral Obligations on the Closing Date.

CRR 405: Rockford Tower Capital Management, L.L.C. intends to act as Retention Holder for the purposes of the European Retention Requirements. On the Closing Date, the Retention Holder will undertake to subscribe for and hold, on an on-going basis, as “originator”, Subordinated Notes with an Aggregate Outstanding Amount equal to not less than 5% of the Retention Basis Amount as of the Closing Date.