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Anchorage Capital Europe CLO 2: 22 October 2018

A managed cash flow CLO to be managed by Anchorage Capital, which will direct the selection, acquisition and disposition of collateral on behalf of the Issuer and may engage in trading activity, including discretionary trading.

The transaction will feature a four year reinvestment period. Anchorage Capital Group, L.L.C. is a New York-based registered investment adviser founded in 2003. The firm manages private investment funds across the credit, special situations and illiquid investment markets of North America and Europe using an active long and short basis, with particular focus on defaulted and leveraged issuers.

The portfolio will consist of senior secured loans and senior secured bonds (min 90.0%) and unsecured senior loans, second-lien loans, mezzanine obligations and high yield bonds (max 10.0%). It is expected to be at least 64.0% ramped up as of the closing date and to be comprised predominantly of corporate loans to obligors domiciled in Western Europe.