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Bosphorus CLO IV: 05 June 2018

The fourth in the Bosphorus managed cash flow CLO series, where the assets securing the notes will consist primarily of a portfolio of Senior Secured Loans and Senior Secured Bonds. Once again, Commerzbank AG London Branch is acting as the investment manager.

Eligibility criteria (includes): it is a Senior Secured Loan or Senior Secured Bond; it is (i) denominated in Euro and (ii) not convertible into or payable in any other currency; it is not an obligation which has a S&P or Fitch Rating lower than “CCC”; it is an obligation of an Obligor or Obligors Domiciled in an Eligible Country; it is not a Bridge Loan, a Corporate Rescue Loan, a Current Pay Obligation, a Deferring Security, a Delayed Drawdown Obligation, a High Yield Bond, a Mezzanine Loan, a Non-Senior Secured Bond, a Participation, a PIK Security, a pre-funded letter of credit, a Project Finance Loan, a Revolving Obligation, a Second Lien Loan, a Step-Up Coupon Security, a Step-Down Coupon Security, a Structured Finance Obligation, a Synthetic Security, an Unsecured Loan or a Zero-Coupon Security.

The Issuer has committed to purchase all of the Initial Portfolio Assets pursuant to the Initial Collateral Acquisition Agreements. Approximately 80.0% of the Initial Portfolio Assets will be purchased by the Issuer pursuant to the terms of the Forward Sale Agreement and the Multilateral Netting Agreement. The transaction will also feature a four-year reinvestment period.

Compare/contrast: Bosphorus CLO III