Clarinda Park CLO - 2nd refinancing: 25 February 2021

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 Blackstone Ireland Limited.

On 15 November 2016 (the “Original Issue Date”) Clarinda Park CLO issued Class A-1 Senior Secured Floating Rate Notes due 2029, Class A2 Senior Secured Floating 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 15 May 2019 (the “2019 Refinancing Date”), the Issuer refinanced the Original Class A-1 Notes, the Original Class A-2 Notes, the Original Class B Notes, the Original Class C Notes and the Original Class D Notes by issuing Class A-1 Senior Secured Floating Rate Notes due 2029, Class A-2 Senior Secured Floating Rate Notes due 2029, Class B Senior Secured Deferrable Floating Rate Notes due 2029, Class C Senior Secured Deferrable Floating Rate Notes due 2029 and Class D Senior Secured Deferrable Floating Rate Notes due 2029.

On 22 February 2021 (the second refinancing date, and the “Issue Date”) the Issuer will, subject to certain conditions, refinance the 2019 Class A-1 Notes, the 2019 Class A-2 Notes, the 2019 Class B Notes, the 2019 Class C Notes, the 2019 Class D Notes and the Original Class E Notes by issuing Class X Senior Secured Floating Rate Notes due 2034, Class A-1 Senior Secured Floating Rate Notes due 2034, Class A-2 Senior Secured Floating Rate Notes due 2034, Class B Senior Secured Deferrable Floating Rate Notes due 2034, Class C Senior Secured Deferrable Floating Rate Notes due 2034, Class D Senior Secured Deferrable Floating Rate Notes due 2034 and Class E Senior Secured Deferrable Floating Rate Notes due 2034.

The Offered Notes are being offered by the Issuer through Merrill Lynch International in its capacity as initial purchaser of such Offered Notes subject to prior sale.

EU Risk Retention: In accordance with the Retention Requirements, Blackstone Corporate Funding DAC, in its capacity as the originator, will undertake that it will continue to hold, on an ongoing basis for so long as any Class of Notes remains outstanding, Subordinated Notes with an original Principal Amount Outstanding multiplied by the issue price at which such Subordinated Notes were purchased by BCF (such original Principal Amount Outstanding as calculated as of the date of issuance of such Subordinated Notes) which is equal to or greater than 5% of the greater of the Target Par Amount and the Collateral Principal Amount on the relevant date of determination.