Benefit Street Partners CLO IV (Reissue-2) Ltd: 25 April 2019

The Second Refinancing Notes will be secured by a portfolio of assets to be managed by Benefit Street Partners L.L.C., consisting primarily of senior secured loans and, subject to any limitations described herein, second lien loans and senior unsecured loans.

On 29 May 2014 (the Original Closing Date), Benefit Street Partners CLO IV Ltd issued Class A-1A Senior Secured Floating Rate Notes due 2026, Class A-1B Senior Secured Fixed Rate Notes due 2026, Class A-2A Senior Secured Floating Rate Notes due 2026, Class A-2B Senior Secured Fixed Rate Notes due 2026, Class B Senior Secured Deferrable Floating Rate Notes due 2026, Class C Senior Secured Deferrable Floating Rate Notes due 2026, Class D Secured Deferrable Floating Rate Notes due 2026 and Subordinated Notes due 2026.

On 22 December 2016 (the First Refinancing Date) the Issuer, subject to certain conditions, refinanced the Original Refinanced Notes by issuing Class A-1-R Senior Secured Floating Rate Notes due 2029, Class A-2-R Senior Secured Floating Rate Notes due 2029, Class B-R Senior Secured Deferrable Floating Rate Notes due 2029, Class C-R Senior Secured Deferrable Floating Rate Notes due 2029 and Class D-R Secured Deferrable Floating Rate Notes due 2029.

On or about 22 April 2019 (the Second Refinancing Date) the Issuer will, subject to certain conditions, refinance the Class A-1-R Notes, the Class A-2-R Notes, the Class B-R Notes and the Class C-R Notes (collectively, the "Refinanced Notes") by issuing Class A-1-RR Senior Secured Floating Rate Notes due 2029, Class A-2RR Senior Secured Floating Rate Notes due 2029, Class B-RR Senior Secured Deferrable Floating Rate Notes due 2029 and Class C-RR Senior Secured Deferrable Floating Rate Notes due 2029.