Chicago, Aug. 3 – CVC Credit Partners, LLC sold $499.4 million of bonds in a collateralized loan obligation being issued by Apidos CLO XL Ltd., according to a new issue report and a press release.
The notes will mature on July 16, 2035.
The CLO consists of $320 million of class A-1 senior secured floating-rate notes at SOFR plus 180 basis points, $10 million of class A-2 senior secured floating-rate notes at SOFR plus 200 bps, $46.5 million of class B senior secured floating-rate notes at SOFR plus 250 bps, $28 million of class C mezzanine deferrable floating-rate notes at SOFR plus 325 bps, $33 million of class D mezzanine deferrable floating-rate notes at SOFR plus 430 bps, $18 million of class E mezzanine deferrable floating-rate notes at SOFR plus 769 bps, $1 million of class F mezzanine deferrable floating-rate notes at SOFR plus 850 bps and $42.9 million of subordinated notes.
CVC Credit Partners, LLC will manage the collateral through the end of the reinvestment period in five years.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Goldman Sachs & Co. LLC was the placement agent.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York City.
| Issuer: | Apidos CLO XL Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $499.4 million
|
| Maturity: | July 16, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | CVC Credit Partners, LLC
|
| Settlement date: | July 28
|
|
|
| Class A-1 notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $46.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $28 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $33 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 430 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 769 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 850 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $42.9 million
|
| Securities: | Subordinated notes
|
|
|
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