Chicago, July 4 – CVC Credit Partners Investment Management Ltd. sold €406.2 million in a collateralized loan obligation issued by CVC Cordatus Loan Fund XXI DAC, according to multiple press releases.
The notes will mature on Sept. 22, 2034.
The CLO consists of €1.8 million of class X senior secured floating-rate notes at Euribor plus 65 basis points, €174 million of class A-1 senior secured floating-rate notes at Euribor plus 96 bps, €60 million of class A-2 senior secured floating-rate notes at Euribor plus 137 bps, €38 million of class B-1 senior secured floating-rate notes at Euribor plus 170 bps, €10 million of class B-2 2.05% senior secured fixed-rate notes, €26 million of class C senior secured deferrable floating-rate notes at Euribor plus 215 bps, €30 million of class D senior secured deferrable floating-rate notes at Euribor plus 305 bps, €21 million of class E senior secured deferrable floating-rate notes at Euribor plus 593 bps, €14 million of class F senior secured deferrable floating-rate notes at Euribor plus 870 bps and €31.4 million of subordinated notes.
CVC Credit Partners Investment Management Ltd. will manage the collateral through the end of the 4.5-year reinvestment period.
Collateral for the notes consists of senior secured obligations.
Barclays was the placement agent.
CVC is the credit management arm of London-based private equity firm CVC Capital Partners Ltd.
| Issuer: | CVC Cordatus Loan Fund XXI DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €406.2 million
|
| Maturity: | Sept. 22, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | CVC Credit Partners Investment Management Ltd.
|
| Settlement date: | Sept. 10, 2021
|
|
|
| Class X notes
|
| Amount: | €1.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 65 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | €174 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 96 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A-2 notes
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| Amount: | €60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 137 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €38 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | €10 million
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| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.05%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 305 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 593 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 870 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €31.4 million
|
| Securities: | Subordinated notes
|
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