Cadogan Square CLO XIII: 22 March 2019
The assets securing the notes will consist primarily of a portfolio of Secured Senior Loans, Secured Senior Bonds, Second Lien Loans, Mezzanine Obligations, High Yield Bonds, Corporate Rescue Loans and Unsecured Senior Obligations, and will be managed by the Portfolio Manager, Credit Suisse Asset Management.
Eligibility criteria (includes): it is a Secured Senior Loan, a Secured Senior Bond, a Corporate Rescue Loan, an Unsecured Senior Obligation, a Mezzanine Obligation, a Second Lien Loan, a High Yield Bond or a PIK Security (in each case, which is not a Participation of a Participation); it is not a Bridge Loan; it is not a lease; it is not a Structured Finance Security, letter of credit or a Synthetic Security; it is not a Zero Coupon Security; other than in the case of a Corporate Rescue Loan, it has a Fitch Rating of not lower than “CCC-”; other than in the case of a Corporate Rescue Loan, it has a Moody’s Rating of not lower than “Caa3”; it is an obligation of an Obligor or Obligors Domiciled in a Qualifying Country (as determined by the Portfolio Manager).
The Notes are being offered on the Issue Date by the Issuer through Barclays Bank plc in its capacity as initial purchaser of the offering of such Notes.
EU Risk Retention: On the Issue Date, the Retention Holder (NP Europe Loan Management I) shall acquire and retain on an ongoing basis for so long as any Class of Notes remains outstanding, a material net economic interest in the first loss tranche of not less than 5% of the nominal value of the securitised exposures through the purchase and retention of Class M Subordinated Notes.
US Risk Retention: The Retention Holder (NP Europe Loan Management I) has informed the Issuer and the Initial Purchaser that it does not intend to retain a risk retention interest contemplated by the U.S. Risk Retention Rules in connection with the transaction described in the Offering Circular.