19 May 2017

CVC CREDIT PARTNERS EUROPEAN OPPORTUNITIES LIMITED (the "Company")
(a closed-ended investment company incorporated in Jersey with registration number 112635)
Registered Office: Liberté House, 19-23 La Motte Street, St Helier, Jersey JE2 4SY

Change to Dividend Target and Intention to Raise Capital

The information contained within this announcement constitutes inside information.

Change to dividend target

In the light of the Company's total return performance in 2016 and year to date 2017, the Board of Directors is pleased to announce that it has revised the Company's dividend target from the current level of 5 pence / 5 Euro-cents per ordinary share of no par value (the "Shares") per annum, to target a dividend of 5.5 pence / 5.5 Euro-cents per Share per annum, equivalent to a yield of approximately 5 per cent. on the current NAV per Share.

It is expected that the first dividend to be declared under the new target will be in respect of the quarter ending 30 June 2017 and will be payable on or around 1 September 2017.

Intention to raise capital

The Company also announces that it is undertaking a placing (the "Placing") of the Company's Shares that are currently held in treasury (the "Treasury Shares").  The Placing follows an extended period of strong performance by the Company, which has seen the Company reissue 2.7 million Sterling Treasury Shares at a premium to NAV per Share.

Pursuant to the Placing, the Company may sell Sterling and/or Euro Treasury Shares, depending on demand, and any Treasury Shares sold will be sold at a price that is equal to a 0.75% premium to the last-published cum-income NAV per Share as at the time the Placing closes.  The costs of the Placing will be met out of the premium.

The Placing will be made to Qualified Investors (as defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended)) through Winterflood Securities Limited ("Winterflood"). The decision to sell Treasury Shares to any Qualified Investor and the amount of their allocation shall be at the absolute discretion of the Company and Winterflood.

Treasury Shares sold pursuant to the Placing will rank pari passu with the existing Shares, including the right to receive all future dividends and distributions.

Following completion of the Placing, the Board reserves the right to cancel any or all of the remaining Treasury Shares.

The expected timetable is as follows:

All times are London time and may be subject to change at the discretion of the Board.

The person responsible for arranging for the release of this announcement on behalf of the Company is Siobhan Lavery of BNP Paribas Securities Services S.C.A., Jersey Branch, Company Secretary.

ENQUIRIES

CVC Credit Partners European Opportunities Limited

Richard Boléat

+44 1534 625 522

Winterflood Securities Limited

Joe Winkley/Darren Willis

+44 20 3100 0000

Goldman Sachs

Shomick Bhattacharya

+44 20 7774 1000

CVC Credit Partners European Opportunities Limited is regulated by the Jersey Financial Services Commission

A copy of this announcement will be available for inspection, subject to certain restrictions relating to persons resident in restricted jurisdictions, on the Company's web site at www.ccpeol.com.