CVC Credit Partners to offer $514.05 million of notes in Apidos CLO XVIII transaction

By Cristal Cody

Tupelo, Miss., June 13 – CVC Credit Partners, LLC plans to bring a $514.05 million collateralized loan obligation deal, according to a market source.

The Apidos CLO XVIII/Apidos CLO XVIII LLC transaction includes $315 million of class A-1 floating-rate notes (//AAA); $66.1 million of class A-2 floating-rate notes; $21.9 million of class B floating-rate notes; $29.9 million of class C floating-rate notes; $27.9 million of class D floating-rate notes; $5.6 million of class E floating-rate notes and $47.65 million of subordinated notes.

J.P. Morgan Securities LLC is the placement agent.

CVC Credit Partners will manage the CLO.

The notes are due 2026.

The CLO has a two-year non-call period and a four-year reinvestment period.

The CLO is collateralized primarily by first-lien senior secured loans.

Proceeds from the transaction will be used to purchase a portfolio of leveraged loans.

CVC Credit Partners’ last CLO offering was the $519.25 million Apidos CLO XVII/Apidos CLO XVII LLC deal that priced on March 20.

The credit management arm of London-based private equity firm CVC Capital Partners Ltd. brought three CLO transactions in 2013.

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