Chicago, Jan. 12 – CVC Credit Partners Investment Management Ltd. sold €410.1 million in a collateralized loan obligation issued by CVC Cordatus Loan Fund XXVI DAC, according to multiple notices.
The notes will mature on Jan. 15, 2037.
The CLO consists of €252 million of class A floating-rate notes at Euribor plus 220 basis points, €25.7 million of class B-1 floating-rate notes at Euribor plus 384 bps, €6 million of class B-2 7.% fixed-rate notes, €36 million of class C floating-rate notes at Euribor plus 475 bps, €21.7 million of class D-1 floating-rate notes at Euribor plus 616 bps, €8 million of class D-2 floating-rate notes at Euribor plus 773 bps, €16.9 million of class E floating-rate notes at Euribor plus 842 bps, €13.8 million of class F floating-rate notes at Euribor plus 1083 bps and €30 million of subordinated notes.
CVC Credit Partners Investment Management Ltd. will manage the collateral through the end of the reinvestment period on Jan. 18, 2028.
Collateral for the notes consists of senior secured obligations.
The notes can be called starting Jan. 15, 2025.
CVC is the credit management arm of London-based private equity firm CVC Capital Partners Ltd.
| Issuer: | CVC Cordatus Loan Fund XXVI DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €410.1 million
|
| Maturity: | Jan. 15, 2037
|
| Structure: | Cash flow CLO
|
| Manager: | CVC Credit Partners Investment Management Ltd.
|
| Call feature: | Jan. 15, 2025
|
| Settlement date: | Dec. 15
|
|
|
| Class A notes
|
| Amount: | €252 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €25.7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 384 bps
|
| Price: | 99.1
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €6 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 7.%
|
| Price: | 98
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €36 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 475 bps
|
| Price: | 97.6
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | €21.7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 616 bps
|
| Price: | 96.2
|
| Rating: | S&P: BBB+
|
| Fitch: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | €8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 773 bps
|
| Price: | 96.1
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €16.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 842 bps
|
| Price: | 89.1
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €13.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 1083 bps
|
| Price: | 81
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €30 million
|
| Securities: | Subordinated notes
|
| Price: | 91.5
|
|
|
© 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.
