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CVC Cordatus Loan Fund VIII Limited: 02 April 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.

The Collateral Manager was incorporated by CVC Credit Partners to establish and manage future European collateralised loan obligations and invest in and hold retention interests in European CLOs managed by the Collateral Manager in accordance with the EU securitisation retention regulations and the US securitisation retention regulations.

As at 31 December 2016 CVC Credit Partners manages and advises in the leveraged finance asset class globally with approximately USD 15.8bln in combined assets under management and committed capital across multiple investment vehicles spanning performing and non-performing credit.

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 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 65.0% of the Principal Balance.

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 Eur280mln which is approximately 70.0% of the Target Par Amount.

CRR 405: In accordance with the EU Retention Requirements, the Collateral Manager, in its capacity as the Retention Holder, will undertake …. to acquire and hold the EU Retention Notes on the terms set out in the EU Retention Letter (see prospectus).