Chicago, Aug. 5 – CVC Credit Partners, LLC sold $492.5 million in a collateralized loan obligation being issued by Apidos CLO XLI Ltd., according to presale reports.
The notes will mature on Oct. 20, 2034.
The CLO consists of $307.5 million of class A-1 senior secured floating-rate notes at SOFR plus 208 basis points, $20 million of class A-2 senior secured floating-rate notes at SOFR plus 245 bps, $27.25 million of class B-1 senior secured floating-rate notes at SOFR plus 300 bps, $20 million of class B-2 5.46% senior secured fixed-rate notes, $29.25 million of class C mezzanine deferrable floating-rate notes at SOFR plus 390 bps, $33 million of class D mezzanine deferrable floating-rate notes at SOFR plus 535 bps, $13 million of class E mezzanine deferrable floating-rate notes at SOFR plus 849 bps, $500,000 of class F mezzanine deferrable floating-rate notes at SOFR plus 845 bps and $42 million of subordinated notes.
CVC Credit Partners, LLC will manage the collateral through the end of the reinvestment period in October 2027.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting October 2024.
SG Americas Securities, LLC was the placement agent.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York City.
| Issuer: | Apidos CLO XLI Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $492.5 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | SG Americas Securities, LLC
|
| Manager: | CVC Credit Partners, LLC
|
| Call feature: | October 2024
|
| Settlement date: | Sept. 22
|
|
|
| Class A-1 notes
|
| Amount: | $307.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 208 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $27.25 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.46%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $29.25 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $33 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 535 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 849 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $500,000
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 845 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $42 million
|
| Securities: | Subordinated notes
|
|
|
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