Arbour CLO VII DAC: 02 February 2020
The assets securing the notes will consist of a portfolio of primarily Senior Loans, Secured Senior Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by Oaktree Capital Management (Europe) LLP.
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, a PIK Obligation or a Bridge Loan; it is not a Defaulted Obligation or a Credit Impaired Obligation; it is not a lease; it is not a Structured Finance Security, a Project Finance Loan, a pre-funded letter of credit or a Synthetic Security; is an obligation of an Obligor or Obligors Domiciled in a Non-Emerging Market Country (as determined by the Collateral Manager acting on behalf of the Issuer); it is not a Zero Coupon Obligation; it has a minimum purchase price of 60.0% of the Principal Balance of such Collateral Debt Obligation.
The Issuer anticipates that, by the Issue Date, it (or the Collateral Manager on its behalf) will have purchased or committed to purchase Collateral Debt Obligations the Aggregate Principal Balance of which is at least €320mln, which is approximately 80.0% of the Target Par Amount.
The Notes are being offered by the Issuer through Merrill Lynch International in its capacity as initial purchaser of the offering of such Notes subject to prior sale.
EU Risk Retention: The Collateral Manager shall act as Retention Holder for the purposes of the EU Retention Requirements. The Retention Holder will undertake to acquire and retain a material net economic interest in the transaction which will be comprised of a first loss tranche by holding in its own name and for its own account on an on-going basis, for so long as any Class of Notes remains outstanding, Subordinated Notes with an original Principal Amount Outstanding such that the aggregate purchase price thereof equals no less than 5.0% of the Target Par Retention Amount.