By Cristal Cody
Tupelo, Miss., Feb. 15 – CVC Credit Partners, LLC refinanced $385.75 million of collateralized loan obligation notes due Oct. 19, 2026 at par in a vintage 2014 transaction, according to a market source.
Apidos CLO XIX/Apidos CLO XIX LLC priced $270 million of class A-1-R senior secured floating-rate notes at Libor plus 120 basis points, $53.25 million of class B-R senior secured floating-rate notes at Libor plus 155 bps, $33 million of class C-R mezzanine deferrable floating-rate notes at Libor plus 220 bps and $29.5 million of class D-R mezzanine deferrable floating-rate notes at Libor plus 340 bps.
BofA Merrill Lynch arranged the transaction.
CVC Credit Partners is the CLO manager.
Proceeds were used to redeem the original notes on Wednesday.
The CLO manager priced two new CLOs and refinanced two vintage CLOs in 2016.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York.
| Issuer: | Apidos CLO XIX/Apidos CLO XIX LLC
|
| Amount: | $385.75 million refinancing
|
| Maturity: | Oct. 19, 2026
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | BofA Merrill Lynch
|
| Manager: | CVC Credit Partners, LLC
|
| Pricing date: | Feb. 6
|
| Refinancing date: | Feb. 15
|
|
|
| Class A-1-R notes
|
| Amount: | $270 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $53.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C-R notes
|
| Amount: | $33 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Price: | Par
|
| Rating: | Moody’s: A2
|
|
|
| Class D-R notes
|
| Amount: | $29.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Price: | Par
|
| Rating: | Moody’s: Baa3
|
|
|
|
|
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