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Arini European CLO II DAC: 03 May 2024

The assets securing the Notes will primarily consist of a portfolio of Secured Senior Loans, Secured Senior Bonds, Unsecured Senior Obligations, Mezzanine Obligations, Second Lien Loans, Corporate Rescue Loans and High Yield Bonds, and will be managed by Squarepoint Capital LLP prior to the Authorisation Date and Arini Capital Management Limited.

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 or a High Yield Bond; it is not a Structured Finance Security or a Synthetic Security; other than in the case of Corporate Rescue Loans or Uptier Priming Debt, it is an obligation which has a Fitch Rating of “CCC-” or higher and an S&P Rating of “CCC-” or higher; it has not been called for, and is not subject to a pending, redemption; it is not a Project Finance Loan; it 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); the minimum purchase price of the Collateral Obligation is 60.0% of the Principal Balance of such Collateral Obligation.

The Issuer anticipates that, by the Issue Date, it will have purchased or committed to purchase Collateral Obligations the Aggregate Principal Balance of which is equal to at least €475mln, which is approximately 95.0% of the Target Par Amount.

The Notes are being offered by the Issuer through Barclays Bank PLC in its capacity as Initial Purchaser of the Notes subject to prior sale.

EU & UK Risk Retention: Arini Loan Management Designated Activity Company will act as retention holder. In such capacity, for the purposes of the EU/UK Retention Requirements, the originator, sponsor or original lender will retain, on an ongoing basis, a material net economic interest of not less than 5% in the securitisation in accordance with the applicable EU/UK Retention Requirement.

US Risk Retention: The Retention Holder will retain the US Retained Interest in compliance with the US Risk Retention Rules and such that the US Retained Interest satisfies the requirements for retaining an “eligible vertical interest” under the US Risk Retention Rules.