X0708 D/A LIVE 0001502133 MacKay Shields Defensive Bond Arbitrage Fund Ltd. Clarendon House 2 Church Street Hamilton D0 BERMUDA HM 11 (212) 758-5400 BERMUDA None None Other Bermuda Open-Ended Exempt Company true N/A MacKay Shields LLC 299 Park Avenue 32nd Floor New York NY NEW YORK 10171 Promoter Investment Manager of the Issuer Dawn C. Griffiths Conyers Dill & Pearman Clarendon House, 2 Church Street Hamilton D0 BERMUDA HM 11 Director Rene A. Bustamante 506 Carnegie Center Drive Suite 200 Princeton NJ NEW JERSEY 08540 Director Executive Managing Director of MacKay Shields LLC Young Lee 299 Park Avenue 32nd Floor New York NY NEW YORK 10171 Director Pooled Investment Fund Hedge Fund false Decline to Disclose 06b 3C 3C.7 true 0001502133-25-000003 2004-11-01 true true false 5000000 NYLIFE Distributors LLC 35350 None None 30 Hudson Street Jersey City NJ NEW JERSEY 07302 All States false Indefinite 640943303 Indefinite false 41 0 0 The Investment Manager of the Issuer shares a portion of its management fee received from the Issuer with one or more of the Issuer's placement agents. Such placement agents may receive other fees (e.g., sales loads) payable directly 0 [cont'd from Item 15] to the placement agent (outside the Issuer) in addition to (and not deducted from) investment amounts; the amount of such fees are unknown to the Issuer and the Investment Manager. false MacKay Shields Defensive Bond Arbitrage Fund Ltd. /s/Rene Bustamante Rene A. Bustamante Executive Managing Director of Investment Manager 2026-09-29