Chicago, Feb. 14 – CVC Credit Partners, LLC sold $504.07 million in a collateralized loan obligation being issued by Apidos CLO XLIII Ltd., according to a presale report.
The notes will mature on April 2035.
The CLO consists of $307.5 million of class A-1 senior secured floating-rate notes at SOFR plus 175 basis points, $15 million of class A-2 senior secured floating-rate notes at SOFR plus 205 bps, $54.5 million of class B senior secured floating-rate notes at SOFR plus 245 bps, $32 million of class C mezzanine deferrable floating-rate notes at SOFR plus 310 bps, $31 million of class D mezzanine deferrable floating-rate notes at SOFR plus 510 bps, $17.5 million of class E mezzanine deferrable floating-rate notes at SOFR plus 775 bps, $1 million of class F mezzanine deferrable floating-rate notes at SOFR plus 911 bps and $45.57 million of subordinated notes.
CVC Credit Partners, LL will manage the collateral through the end of the reinvestment period on April 2028.
Collateral for the notes consists of non-investment-grade broadly syndicated loans and other assets.
The notes can be called starting March 2025.
Deutsche Bank Securities Inc. was the placement agent.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York City.
| Issuer: | Apidos CLO XLIII Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $504.07 million
|
| Maturity: | April 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | CVC Credit Partners, LLC
|
| Call feature: | March 2025
|
| Settlement date: | March 2023
|
|
|
| Class A-1 notes
|
| Amount: | $307.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $54.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $31 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 510 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $17.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 775 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 911 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $45.57 million
|
| Securities: | Subordinated notes
|
|
|
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