Company: CGABL
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001193125-25-206326
Chunk: 12

Company: Carlyle Group Inc.
Filing Date: 2025-09-17
Form: 424B5
Chunk 12
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 unless any such entities become guarantors. See “Summary—Organizational Structure” and “Description of the Notes—Note
Guarantees.” Accordingly, the notes will be structurally subordinated to claims of creditors (including trade creditors, policyholder liabilities and other payables and claims of preferred equity-holders, if any) of all the Issuer’s non-guarantor subsidiaries, except to the extent that any such subsidiaries become guarantors. In addition, certain direct and indirect wholly owned subsidiaries of the Guarantors are obligors under our senior
credit facility, our Global Credit revolving credit facility, our existing notes, and certain CLO term loans, but will not be guarantors of the notes offered hereby. All obligations of each subsidiary of The Carlyle Group Inc. that is not itself a
Guarantor will have to be satisfied before any of the assets of such entities would be available for distribution, upon a liquidation or otherwise, to the Issuer and the Guarantors.

The notes and the guarantees are unsecured and are therefore effectively subordinated to any secured debt of the Issuer and the Guarantors to the extent of the value of the assets securing such debt.

The Issuer’s obligations under the notes, and the Guarantors’
obligations under the guarantees, are unsecured. The indenture governing the notes limits the Issuer’s and the Guarantors’ ability to incur secured debt, but such limits are subject to a number of exceptions. See “Description of
the Notes—Limitation on Liens. In the

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future, the Issuer and the Guarantors may incur indebtedness that is secured by certain or substantially all of their respective tangible and intangible assets, including the equity interests of each of their existing and future subsidiaries. The notes and the guarantees will be effectively subordinated to the extent of the value of the assets securing any such secured debt. The effect of this subordination is that if any of the Issuer or the Guarantors is involved in a bankruptcy, liquidation, dissolution, reorganization or similar proceeding, or upon a default in payment on, or the acceleration of, any secured debt, the assets that secure such debt will be available to pay obligations on the notes or the guarantees only after all such debt has been paid in full from the assets securing such debt, even if an event of default exists under the indenture governing the notes at such time. In any such event, because the notes are