Dryden 46 Euro CLO 2016 (Reissue): 14 June 2019

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

On 28 October 2016 (the original Closing Date) Dryden 46 Euro CLO 2016 B.V. issued Class A-1 Senior Secured Floating Rate Notes due 2030, Class A-2 Senior Secured Fixed Rate Notes due 2030, Class B-1 Senior Secured Floating Rate Notes due 2030, Class B-2 Senior Secured Fixed Rate Notes due 2030, Class C Mezzanine Secured Deferrable Floating Rate Notes due 2030, Class D Mezzanine Secured Deferrable Floating Rate Notes due 2030, Class E Mezzanine Secured Deferrable Floating Rate Notes due 2030, Class F Mezzanine Secured Deferrable Floating Rate Notes due 2030 and Subordinated Notes due 2030.

On or about 12 June 2019 (the Refinancing Date) the Issuer will, subject to certain conditions, refinance the Notes by issuing Class A-1-R Senior Secured Floating Rate Notes due 2030, Class A-2-R Senior Secured Fixed Rate Notes due 2030, Class B-1-R Senior Secured Floating Rate Notes due 2030, Class C-R Mezzanine Secured Deferrable Floating Rate Notes due 2030, and Class D-R Mezzanine Secured Deferrable Floating Rate Notes due 2030. The Class B-2 Notes, the Class E Notes, the Class F Notes and the Subordinated Notes are not being refinanced.