CVC Cordatus Loan Fund IX Limited: 03 September 2017

The assets securing the Notes will consist of a portfolio of Senior Secured Loans, Senior Secured Bonds, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by CVC Credit Partners European CLO Management LLP.

Eligibility criteria (includes): it is a Senior Secured Loan, Senior Secured Bond, an Senior Unsecured Obligation, a Corporate Rescue Loan, a Mezzanine Obligation, a Second Lien Loan or a High Yield Bond, a PIK Obligation or a Bridge Loan; it is (I) denominated in Euro or (II) denominated in a Qualifying Currency other than Euro; it is not a Defaulted Obligation or a Credit Impaired Obligation; it is not a lease; it is not a Structured Finance Security, pre-funded letter of credit or a Synthetic Security; it is not a Zero Coupon Obligation, Step-Up Coupon Security or Step-Down Coupon Security; it is not a Project Finance Loan; it has a minimum purchase price of 60%.

The Issuer anticipates that, by the issue date, it will have purchased or committed to purchase Collateral Debt Obligations the Aggregate Principal Balance of which is equal to at least €265mln which is approximately 66.25% of the Target Par Amount.

CRR 405: The Collateral Manager acting through its Jersey branch in its capacity as Retention Holder will, for so long as any Class of Rated Notes remains Outstanding, undertake to subscribe for and retain, on an ongoing basis, Class M-1 Subordinated Notes with a Principal Amount Outstanding equal to not less than 5% of the Aggregate Collateral Balance in accordance with paragraph 1(d) of Article 405 of the CRR, Article 51(1)(d) of the AIFMD Level 2 Regulation and paragraph 2(d) of Article 254 of the Solvency II Retention Requirements.