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Oak Hill European Credit Partners - VII: 10 December 2018

Another managed cash flow CLO from investment manager Oak Hill, which will direct the selection, acquisition and disposition of collateral on behalf of the Issuer and may engage in trading activity, including discretionary trading, during the transaction's four-year reinvestment period. Essentially, the CLO is backed by a €400 million portfolio of non-investment-grade broadly syndicated loans and other assets.

At least 90% of the portfolio must consist of secured senior loans or senior secured bonds and up to 10% of the portfolio may consist of unsecured senior loans, second-lien loans, high yield bonds and mezzanine loans. Prohibited investments: Structured finance obligations, Synthetic securities, Step-up & step-down deals, leases, bridge loans, and Securities with attached equity.

The portfolio is expected to be more than 75% ramped up as of the closing date and to be comprised predominantly of corporate loans to obligors domiciled in Western Europe.