Chicago, March 29 – CVC Credit Partners Group Ltd. refinanced €312.2 million of notes from the CVC Cordatus Loan Fund XII DAC transaction, according to a notice.
The portfolio continues to have a Jan. 23, 2032 maturity.
The refinance notes in the portfolio are the €242 million of class A-1-R senior secured floating-rate notes at Euribor plus 75 basis points (previously 96 bps), €6 million of class A-2-R senior secured floating-rate notes at Euribor plus 110 bps (previously 120 bps) and €17 million of class B-1-R senior secured floating-rate notes at Euribor plus 155 bps (previously 165 bps).
Also included are the €20 million of class B-2-R 2.1% senior secured fixed-rate notes (previously 2.3%) and €27.2 million of class C-R senior secured deferrable floating-rate notes at Euribor plus 220 bps (previously 232 bps).
Proceeds from the new notes will be used to redeemed the old notes at par, according to a different notice.
The original portfolio additionally included €1.6 million of class X senior secured floating-rate notes at Euribor plus 47 bps, €24.1 million of class D senior secured deferrable floating-rate notes at Euribor plus 320 bps, €23.7 million of class E senior secured deferrable floating-rate notes at Euribor plus 535 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 711 bps and €36 million of subordinated notes.
Collateral for the notes comes from senior secured loans or senior secured bonds.
CVC Credit Partners will continue to manage the collateral for the remaining two and a half years in the reinvestment period.
CVC is the credit management arm of London-based private equity firm CVC Capital Partners Ltd.
| Issuer: | CVC Cordatus Loan Fund XII DAC
|
| Issue: | Floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | €312.2 million
|
| Maturity: | Jan. 23, 2032
|
| Manager: | CVC Credit Partners Group Ltd.
|
| Pricing date: | March 23
|
| Settlement date: | April 1
|
|
|
| Class A-1-R notes
|
| Amount: | €242 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 75 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | €6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 110 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1-R notes
|
| Amount: | €17 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 155 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2-R notes
|
| Amount: | €20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.1%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R notes
|
| Amount: | €27.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Rating: | Moody's: A2
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
