Chicago, Feb. 22 – CVC Credit Partners Investment Management Ltd. sold €395.15 million in a collateralized loan obligation being issued by CVC Cordatus Loan Fund XXV-A DAC, according to a presale report.
The notes will mature on May 20, 2036.
The CLO consists of €244 million of class A senior secured floating-rate notes at Euribor plus 165 basis points, €27 million of class B-1 senior secured floating-rate notes at Euribor plus 275 bps, €15 million of class B-2 6.25% senior secured fixed-rate notes, €22 million of class C senior secured floating-rate notes at Euribor plus 385 bps, €26 million of class D senior secured floating-rate notes at Euribor plus 625 bps, €18 million of class E senior secured floating-rate notes at Euribor plus 760 bps, €11 million of class F senior secured floating-rate notes at Euribor plus 1,000 bps and €32.15 million of subordinated notes.
CVC Credit Partners Investment Management Ltd. will manage the collateral through the end of the reinvestment period on Nov. 20, 2027.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans and bonds.
The notes can be called starting April 18, 2025.
Citigroup Global Markets Ltd. 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 XXV-A DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €395.15 million
|
| Maturity: | May 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Ltd.
|
| Manager: | CVC Credit Partners Investment Management Ltd.
|
| Call feature: | April 18, 2025
|
| Settlement date: | April 18
|
|
|
| Class A notes
|
| Amount: | €244 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 165 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €27 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.25%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €22 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 385 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €26 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 625 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €18 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 760 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €11 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 1000 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €32.15 million
|
| Securities: | Subordinated notes
|
|
|
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