Carlyle Global Mkt Strategies Euro CLO 2014-1 (2nd: 08 July 2018

The assets securing the notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by CELF Advisors LLP.

On 26 March 2014 (the Original Issue Date) Carlyle Global Market Strategies Euro CLO 2014-1) issued Class A Senior Secured Floating Rate Notes due 2027, Class B Senior Secured Floating Rate Notes due 2027, Class C Senior Secured Deferrable Floating Rate Notes due 2027, Class D Senior Secured Deferrable Floating Rate Notes due 2027, Class E Senior Secured Deferrable Floating Rate Notes due 2027, Class F Senior Secured Deferrable Floating Rate Notes due 2027, and Subordinated Notes due 2027.

On 17 January 2017 (the 2017 Refinancing Date) the Issuer refinanced the Original Class A Notes, the Original Class B Notes and the Original Class C Notes.

On or about 5 July 2018 the Issuer will, subject to certain conditions, redeem the Refinanced Notes and issue €300,000,000 Class A-R Senior Secured Floating Rate Notes due 2031, €16,000,000 Class B-1-R Senior Secured Floating Rate Notes due 2031, €23,000,000 Class B-2-R Senior Secured Fixed Rate Notes due 2031, €6,000,000 Class B-3-R Senior Secured Floating Rate Notes due 2031, €17,200,000 Class C-1-R Senior Secured Deferrable Floating Rate Notes due 2031, €15,800,000 Class C-2-R Senior Secured Deferrable Floating Rate Notes due 2031, €24,500,000 Class D-R Senior Secured Deferrable Floating Rate Notes due 2031, €33,500,000 Class E-R Senior Secured Deferrable Floating Rate Notes due 2031, and €14,500,000 Class F-R Senior Secured Deferrable Floating Rate Notes due 2031. The Issuer will also issue an additional €19,600,000 Subordinated Notes due 2031, which shall form a single class of Subordinated Notes with an aggregate principal amount outstanding of €57,500,000.