Chicago, Sept. 14 – CVC Credit Partners U.S. CLO Management LLC sold $507.68 million in a collateralized loan obligation being issued by Apidos CLO XXXVI/Apidos CLO XXXVI LLC, according to a pre-sale report.
The notes will mature on July 20, 2034.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at Libor plus 113 basis points, $20 million of class A-2 senior secured floating-rate notes at Libor plus 135 bps, $60 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 200 bps, $30 million of class D senior secured deferrable floating-rate notes at Libor plus 290 bps, $18 million of class E senior secured deferrable floating-rate notes at Libor plus 595 bps and $49.68 million of subordinated notes.
CVC Credit Partners U.S. CLO Management LLC will manage the collateral through the end of the reinvestment period on July 20, 2026.
The notes can be called starting July 20, 2023.
Citigroup Global Markets Inc. was the placement agent.
The collateral manager is a New York-based subsidiary of London-based CVC Capital Partners Ltd.
| Issuer: | Apidos CLO XXXVI/Apidos CLO XXXVI LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $507.68 million
|
| Maturity: | July 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | CVC Credit Partners U.S. CLO Management LLC
|
| Call feature: | July 20, 2023
|
| Settlement date: | Aug. 27
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
|
|
| Class B notes
|
| Amount: | $60 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 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 290 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 595 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $49.68 million
|
| Securities: | Subordinated notes
|
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