The Library · No. 03

Regulation S

For the International, Non-U.S. Investor

The offshore lane of U.S. capital markets: a safe harbor that lets non-U.S. persons participate in American private credit — cleanly, compliantly, outside U.S. registration.

01

What Reg S Is

Regulation S is the SEC’s safe harbor for offers and sales made outside the United States. Two conditions anchor it: the transaction must be an “offshore transaction” — the buyer is outside the U.S. — and there may be no “directed selling efforts” into the U.S. market.

Securities sold under Reg S carry a distribution-compliance period restricting resale into the U.S., keeping the offshore and domestic pools distinct.

Offshore transactionsNo U.S. directed sellingDistribution compliance periodSecurities Act safe harbor
02

Who It’s For

Non-U.S. citizens and offshore institutions — families and allocators abroad who want fixed-income exposure to durable U.S. demand without U.S. registration overhead. Eligibility is verified at subscription; U.S. persons participate through the domestic vintages instead.

Minimum
$0
2027 INTL series
Fixed Coupon
0%
INTL A & B
Terms
3 / 5yr
INTL A · INTL B
Issuer
Intl Fund, Ltd
Canine Capital International Private Fund
03

Interest Period Notice

The 2027 international vintage is in its interest period. Like the Reg A+ retail series, indications of interest are being gathered before any offering is made.

Required Notice — Testing the WatersCanine Capital is “testing the waters” under Regulation S under the Securities Act of 1933. The company is not under any obligation to make an offering. No money or other consideration is being solicited, and if sent in response, will not be accepted. An indication of interest involves no obligation or commitment of any kind. Read the full disclosure →
04

At Canine Capital

The 2027 INTL vintage — Series INTL A (3-year) and INTL B (5-year) — is planned from Canine Capital International Private Fund, Ltd at a 12.0% fixed contractual coupon, $200,000 minimum, Cash-Pay or Growth elections, in $1,000 denominations.

Same engine, same dual-asset collateral discipline, offshore wrapper.

2027 INTL A · B12.0% fixed coupon$200,000 minimumNon-U.S. persons only

Allocating from abroad?

Review the international vintage on the roster and register interest for the 2027 window.