Chicago, Aug. 16 – CVC Credit Partners Investment Management Ltd. detailed the sale for €442.3 million of notes in a collateralized loan obligation issued by CVC Cordatus Loan Fund XXVII DAC, according to a new issue report.
The notes will mature on April 15, 2035.
The CLO consists of €274.5 million of class A senior secured floating-rate notes at Euribor plus 190 basis points, €23 million of class B-1 senior secured floating-rate notes at Euribor plus 320 bps, €22 million of class B-2 7% senior secured fixed-rate notes, €27 million of class C senior secured deferrable floating-rate notes at Euribor plus 430 bps, €22.5 million of class D-1 senior secured deferrable floating-rate notes at Euribor plus 590 bps, €5.3 million of class D-2 senior secured deferrable floating-rate notes at Euribor plus 658 bps, €19.4 million of class E senior secured deferrable floating-rate notes at Euribor plus 835 bps, €14.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,038 bps and €34.2 million of subordinated notes.
CVC Credit Partners Investment Mgmt. Ltd. will manage the collateral through the end of the reinvestment period on May 25, 2027.
Collateral for the notes consists of senior, mezzanine, second-lien loans and high-yield bonds.
The notes can be called starting May 26, 2025.
Deutsche Bank AG, London Branch 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 XXVII DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €442.3 million
|
| Maturity: | April 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG, London Branch
|
| Manager: | CVC Credit Partners Investment Management Ltd.
|
| Call feature: | May 26, 2025
|
| Settlement date: | May 25
|
|
|
| Class A notes
|
| Amount: | €274.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 190 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €23 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 320 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €22 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 430 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | €22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 590 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class D-2 notes
|
| Amount: | €5.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 658 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €19.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 835 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €14.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1,038 bps
|
| Rating: | Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €34.2 million
|
| Securities: | Subordinated notes
|
|
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