Texas Debt Capital Euro CLO 2024-I DAC: 01 July 2024

Texas Debt Capital Euro CLO 2024-1 (formerly TDC Buffalo Creek EU Warehouse DAC)

The assets securing the Notes will consist primarily of a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by CIFC CLO Management III LLC.

Eligibility criteria (includes): it is a Secured Senior Obligation, a Corporate Rescue Loan, an Unsecured Senior Obligation, a Mezzanine Obligation, a Second Lien Loan or a High Yield Bond; it is not (i) a Structured Finance Security, (ii) a Letter of Credit, (iii) a Synthetic Security or (iv) a Step-Down Coupon Security; it is not a Zero Coupon Security or a Step-Up Coupon Security; it is not a debt obligation which pays interest only and does not require the repayment of principal; is an obligation of an Obligor or Obligors Domiciled in a Non-Emerging Market Country; it is not a Project Finance Loan; it is an ESG Compliant Obligation; it is an obligation with a purchase price greater than or equal to 50.0% of its par amount.

The Issuer has committed to purchase Collateral Obligations the Aggregate Principal Balance of which equals at least €360mln (representing at least 90.0% 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 offering of such Notes, subject to prior sale.

EU & UK Risk Retention: CIFC CLO Management III LLC, in its capacity as the originator, will acquire on the Issue Date and hold, 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 5.0% of the nominal value of the securitised exposures within the meaning of Articles 6(1) and 6(3)(d) of each Securitisation Regulation, through the purchase and retention of Subordinated Notes with a Principal Amount Outstanding multiplied by the issue price at which such Subordinated Notes were purchased by the Retention Holder which is equal to or greater than 5.0% of the Maximum Par Amount.

US Risk Retention: The Collateral Manager has determined that the US Risk Retention Rules do not apply to the Collateral Manager for purposes of this transaction on the Issue Date and, accordingly, the Collateral Manager will not (nor will any majority-owned affiliate of the Collateral Manager) acquire any risk retention interest contemplated by the US Risk Retention Rules.