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Bridgepoint CLO 1 DAC: 21 December 2020

The assets securing the Notes will consist of a portfolio of primarily Senior Loans, Senior Secured Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by Bridgepoint Credit Management Limited.

Bridgepoints’s ultimate parent company is Bridgepoint Group Limited. Bridgepoint Credit was founded in 2008 and has approximately €7 billion of AUM across the capital structure and risk-reward spectrum through its three key complementary strategies of Credit Opportunities, Direct Lending and Senior Debt.

Eligibility criteria (includes): it is a Senior Secured Loan, a Senior Secured Bond, an Unsecured Senior Loan, a Mezzanine Obligation, a Second Lien Loan or a High Yield Bond; other than in the case of a Corporate Rescue Loan, it is not a Defaulted Obligation (other than a Received Obligation received in a Bankruptcy Exchange) or a Credit Impaired Obligation; it is not a Zero Coupon Security; other than in the case of a Corporate Rescue Loan or Current Pay Obligation, it has a Moody's Default Probability Rating of not lower than "Caa3" and an S&P Rating of not lower than "CCC"; it is an obligation in respect of which the Obligor (or the guarantor of such obligation) is Domiciled in a Qualifying Country, as determined by the Collateral Manager; it is not a Project Finance Loan; it has a minimum purchase price of 60.0% of the Principal Balance of each 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 approximately equal to at least €255mln, which is 85.0% of the Target Par Amount.

The Notes are being offered by the Issuer through Barclays Bank PLC in its capacity as sole arranger and initial purchaser of the offering of such Notes subject to prior sale.

EU Risk Retention: The Retention Holder (BCLO Credit Investments I S.À R.L) will undertake on the Issue Date to subscribe for and hold on an ongoing basis, as originator, for so long as any Class of Rated Notes remains outstanding, not less than 5% of the nominal value of the securitised exposures through the purchase and retention of Subordinated Notes with an original Principal Amount Outstanding such that the aggregate purchase price thereof equals or exceeds 5% of the Target Par Retention Amount on the relevant date of determination in accordance with and pursuant to Article 6(3)(d) of the Securitisation Regulation as in effect on the Issue Date.

US Risk Retention: The Retention Holder does not intend to purchase or retain Notes for the purposes of satisfying the U.S. Risk Retention Rules and, instead, each of the Collateral Manager and the Retention Holder intends to use the "Safe harbor for certain foreign related transactions" contained in Section __.20 of the U.S. Risk Retention Rules.