Chicago, Dec. 6 – CVC Credit Partners LLC sold $506.25 million in a collateralized loan obligation being issued by Apidos CLO XXXVII/Apidos CLO XXXVII LLC, according to a pre-sale report.
The notes will mature on Oct. 22, 2034.
The CLO consists of $307.5 million of class A senior secured floating-rate notes at Libor plus 113 basis points, $72.5 million of class B senior secured floating-rate notes at Libor plus 160 bps, $30 million of class C senior secured deferrable floating-rate notes at Libor plus 195 bps, $30 million of class D senior secured deferrable floating-rate notes at Libor plus 305 bps, $18 million of class E senior secured deferrable floating-rate notes at Libor plus 630 bps and $48.25 million of subordinated notes.
CVC Credit Partners LLC will manage the collateral through the end of the reinvestment period on Oct. 22, 2026.
Collateral stems from senior secured loans, cash and eligible investments with most borrowers based in the United States.
Deutsche Bank Securities Inc. was the placement agent.
The collateral manager is a New York-based subsidiary of London-based CVC Capital Partners Ltd.
| Issuer: | Apidos CLO XXXVII/Apidos CLO XXXVII LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $506.25 million
|
| Maturity: | Oct. 22, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | CVC Credit Partners LLC
|
| Settlement date: | Nov. 5
|
|
|
| Class A notes
|
| Amount: | $307.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $72.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 305 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 630 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $48.25 million
|
| Securities: | Subordinated notes
|
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