Carlyle Global Mkt Strategies Euro CLO 2015-1 2nd : 23 February 2020

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

On 12 March 2015 (the Original Issue Date) Carlyle Global Market Strategies Euro CLO 2015-1 issued Class A-1A Senior Secured Floating Rate Notes due 2029, Class A-1B Senior Secured Fixed Rate Notes due 2029, Class A-2A Senior Secured Floating Rate Notes due 2029, Class A-2B Senior Secured Fixed Rate Notes due 2029, Class B Senior Secured Deferrable Floating Rate Notes due 2029, Class C Senior Secured Deferrable Floating Rate Notes due 2029, Class D Senior Secured Deferrable Floating Rate Notes due 2029, Class E Senior Secured Deferrable Floating Rate Notes due 2029, and Subordinated Notes due 2029.

On 18 April 2017 (the 2017 Refinancing Date), the Issuer refinanced the Original Class A-1A Notes, the Original Class A-1B Notes, the Original Class A-2A Notes, the Original Class A-2B Notes, the Original Class B Notes and the Original Class C Notes.

On or about 21 February 2020 (the 2nd Refinancing Date) the Issuer will, subject to certain conditions, issue Class X Senior Secured Floating Rate Notes due 2033, Class A-1-R Senior Secured Floating Rate Notes due 2033, Class A-2A-R Senior Secured Floating Rate Notes due 2033, Class A-2B-R Senior Secured Fixed Rate Notes due 2033, Class B-R Senior Secured Deferrable Floating Rate Notes due 2033, Class C-R Senior Secured Deferrable Floating Rate Notes due 2033, Class D-R Senior Secured Deferrable Floating Rate Notes due 2033 and Class E-R Senior Secured Deferrable Floating Rate Notes due 2033.

The Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €54,000,000 and are not being offered pursuant to this Offering Circular.