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Blackrock European CLO VIII: 10 June 2019

Another cash-flow CLO transaction from manager BlackRock Investment Management (UK) Limited, where the portfolio will consist primarily of non-investment-grade broadly syndicated loans and other assets that the manager will purchase from and trade in the primary and secondary markets.

Concentration limits (include): Secured senior loans or bonds and eligible investments – 96% min; Unsecured senior loans, second lien loans, mezzanine obligations and high yield bonds – 4% max; Fixed-rate assets – 12.5% max; Cov-lite loans – 30% max; Collateral obligations which have a stated maturity which falls after 11 years from the issue date – 10% max; Corporate rescue loans – 5% max; PIK securities – 3% max; Structured finance security, Step-up coupon security, Emerging market obligors, Letter of credit – all prohibited.