CVC Cordatus Loan Fund XXVIII DAC (Refinance): 19 August 2025

The assets securing the Notes will consist primarily 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 Investment Management Limited.

On 3 August 2023 (the Original Issue Date) CVC Cordatus Loan Fund XXVIII issued Class A Senior Secured Floating Rate Notes due 2036, Class B Senior Secured Floating Rate Notes due 2036, Class C Senior Secured Deferrable Floating Rate Notes due 2036, Class D Senior Secured Deferrable Floating Rate Notes due 2036, Class E Senior Secured Deferrable Floating Rate Notes due 2036, Class F Senior Secured Deferrable Floating Rate Notes due 2036 and Subordinated Notes due 2036.

On or about 15 August 2025 (the Re-issue Date) the Issuer will, subject to certain conditions, refinance in whole the Original Class A Notes, the Original Class B Notes, the Original Class C Notes, the Original Class D Notes, the Original Class E Notes and the Original Class F Notes.

The Existing Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €27,100,000 and are not being offered pursuant to this Offering. However, the terms and conditions applicable to the Existing Subordinated Notes will be amended in accordance with the Conditions as outlined in this Offering, including by an extension of their Maturity Date to 15 August 2038. The Additional Subordinated Notes will be issued on the Issue Date and, together with the Existing Subordinated Notes, form a single class of Subordinated Notes with an aggregate principal amount outstanding of €28,700,000.