Chicago, Feb. 4 – CVC Credit Partners Investment Management Ltd. issued €447.5 million in a collateralized loan obligation through CVC Cordatus Loan Fund XXII DAC, according to multiple notices and a listing particular document.
The notes will mature on Dec. 15, 2034.
The CLO consists of €2.2 million of class X senior secured floating-rate notes at Euribor plus 50 basis points, €272.8 million of class A senior secured floating-rate notes at Euribor plus 94 bps, €34.1 million of class B-1 senior secured floating-rate notes at Euribor plus 175 bps, €11 million of class B-2 1.95% senior secured fixed-rate notes, €26.9 million of class C senior secured deferrable floating-rate notes at Euribor plus 210 bps, €30.3 million of class D senior secured deferrable floating-rate notes at Euribor plus 315 bps, €22 million of class E senior secured deferrable floating-rate notes at Euribor plus 616 bps, €13.2 million of class F senior secured deferrable floating-rate notes at Euribor plus 878 bps and €35 million of subordinated notes.
CVC Credit Partners Investment Management Ltd. will manage the collateral through the end of the reinvestment period on June 15, 2026.
Collateral for the notes comes from senior, mezzanine, second-liens loans and high-yield bonds.
The notes can be called starting June 15, 2023.
Deutsche Bank AG was the placement agent.
CVC is the credit management arm of London-based private equity firm CVC Capital Partners Ltd.
| Issuer: | CVC Cordatus Loan Fund XXII DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €447.5 million
|
| Maturity: | Dec. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG
|
| Manager: | CVC Credit Partners Investment Management Ltd.
|
| Call feature: | June 15, 2023
|
| Settlement date: | Dec. 9
|
|
|
| Class X notes
|
| Amount: | €2.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €272.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 94 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €34.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €11 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.95%
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €26.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Price: | Par
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €30.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 315 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 616 bps
|
| Price: | 99
|
| Rating: | Moody's: Ba3
|
| Fitch: BB
|
|
|
| Class F notes
|
| Amount: | €13.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 878 bps
|
| Price: | 97
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €35 million
|
| Securities: | Subordinated notes
|
| Price: | 95
|
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