Chicago, Sept. 30 – CVC Credit Partners Investment Management Ltd. sold €346.9 million in a collateralized loan obligation being issued by CVC Cordatus Loan Fund XXIV DAC, according to the listing particulars and a press release.
The notes will mature on Oct. 24, 2034.
The CLO consists of €211.2 million of class A senior secured floating-rate notes at Euribor plus 120 basis points, €27.1 million of class B-1 senior secured floating-rate notes at Euribor plus 351 bps, €17.3 million of class B-2 4.79% senior secured fixed-rate notes, €21.3 million of class C senior secured deferrable floating-rate notes at Euribor plus 456 bps, €20.2 million of class D senior secured deferrable floating-rate notes at Euribor plus 615 bps, €15.3 million of class E senior secured deferrable floating-rate notes at Euribor plus 747 bps, €10.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 1102 bps, € million of class senior secured deferrable floating-rate notes at Euribor plus bps and €24.1 million of subordinated notes.
CVC Credit Partners Investment Management Ltd. will manage the collateral through the end of the reinvestment period on Sept. 23, 2023.
Collateral for the notes consists of senior secured obligations.
The notes can be called starting Sept. 23, 2023.
Goldman Sachs International 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 XXIV DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €346.9 million
|
| Maturity: | Oct. 24, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs International
|
| Manager: | CVC Credit Partners Investment Management Ltd.
|
| Call feature: | Sept. 23, 2023
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 23
|
|
|
| Class A notes
|
| Amount: | €211.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 120 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €27.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 351 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €17.3 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.79%
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €21.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 456 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €20.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 615 bps
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €15.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 747 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €10.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1102 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €24.1 million
|
| Securities: | Subordinated notes
|
|
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