Chicago, July 13 – CVC Credit Partners U.S. CLO Management, LLC has priced $440 million of notes in a refinancing of the Apidos CLO XXVI/Apidos CLO XXVI LLC transaction, according to an indenture document.
The refinancing notes will mature in July 2029.
The notes are the $295 million of class A-1AR senior secured floating-rate notes at Libor plus 90 basis points, $25 million of class A-1BR senior secured floating-rate notes at Libor plus 130 bps, $52.5 million of class A-2R secured deferrable floating-rate notes at Libor plus 150 bps, $37.5 million of class B-R secured deferrable floating-rate notes at Libor plus 195 bps and $30 million of class C-R senior secured deferrable floating-rate notes at Libor plus 325 bps.
J.P. Morgan Securities LLC is the refinancing placement agent.
The non-call period has been extended for the refinancing notes to July 18, 2022.
The collateral manager is New York-based subsidiary of London-based CVC Capital Partners Ltd.
| Issuers: | Apidos CLO XXVI/Apidos CLO XXVI
|
| Issue: | Floating-rate notes
|
| Amount: | $440 million
|
| Maturity: | July 2029
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | CVC Credit Partners U.S. CLO Management, LLC
|
| Call feature: | July 18, 2022
|
| Pricing date: | July 9
|
| Settlement date: | July 19
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1AR notes
|
| Amount: | $295 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1BR notes
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| Amount: | $25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 130 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2R notes
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| Amount: | $52.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-R notes
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| Amount: | $37.5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | Moody's: A2
|
|
|
| Class C-R notes
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| Amount: | $30 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | Moody's: Baa3
|
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