Penta CLO 11 DAC (Refinance): 27 July 2024

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 Partners Group (UK) Management Ltd.

On 16 May 2022 (the Original Issue Date) Penta CLO 11 issued Class A Senior Secured Floating Rate Notes due 2034, Class B Senior Secured 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, Class E Senior Secured Deferrable Floating Rate Notes due 2034 and Class F Senior Secured Deferrable Floating Rate Notes due 2034. The Issuer also issued Subordinated Notes due 2034.

On or about 24 July 2024 (the re-issue Date and the Refinancing Date) the Issuer will, subject to certain conditions, refinance the Notes by issuing Class X-R Senior Secured Floating Rate Notes due 2037, Class A-R Senior Secured Floating Rate Notes due 2037, Class B-R Senior Secured Floating Rate Notes due 2037, Class C-R Senior Secured Deferrable Floating Rate Notes due 2037, Class D-R Senior Secured Deferrable Floating Rate Notes due 2037, Class E-R Senior Secured Deferrable Floating Rate Notes due 2037 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2037.

The Offered Notes are being offered by the Issuer through Morgan Stanley & Co International plc or an affiliate thereof in its capacity as initial purchaser for the offering of such Notes subject to prior sale.