Chicago, May 12 – CVC Credit Partners, LLC sold $399.1 million in a collateralized loan obligation issued by Apidos CLO XLIV Ltd., according to multiple press releases.
The notes will mature on April 26, 2035.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 200 basis points, $14 million of class A-2 senior secured floating-rate notes at SOFR plus 235 bps, $49 million of class B senior secured floating-rate notes at SOFR plus 255 bps, $22.6 million of class C mezzanine deferrable floating-rate notes at SOFR plus 340 bps, $25.2 million of class D mezzanine deferrable floating-rate notes at SOFR plus 540 bps, $13.2 million of class E mezzanine deferrable floating-rate notes at SOFR plus 825 bps, $500,000 of class F mezzanine deferrable floating-rate notes at SOFR plus 843 bps and $34.6 million of subordinated notes.
CVC Credit Partners, LLC will manage the collateral through the end of the reinvestment period on April 27, 2026.
Collateral for the notes consists of senior secured leveraged loans.
The notes can be called starting Oct. 28, 2024.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York City.
| Issuer: | Apidos CLO XLIV Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $399.1 million
|
| Maturity: | April 26, 2035
|
| Structure: | Cash flow CLO
|
| Manager: | CVC Credit Partners, LLC
|
| Call feature: | Oct. 28, 2024
|
| Settlement date: | April 21
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $14 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $49 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22.6 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $25.2 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 540 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.2 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 825 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $0.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 843 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $34.6 million
|
| Securities: | Subordinated notes
|
|
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