CVC Credit, a $43 billion global credit management business of CVC, announced that it has successfully priced Apidos XLVIII (48), a new $500 million (c.€460 million) Collateralized Loan Obligation (CLO).
This is the sixth new CLO priced by CVC this year, which together have an aggregate value of c.$2.9 billion (c.€2.7 billion). And Apidos XLVIII has a five-year reinvestment period and two-year non-call structure that is supported by an actively managed, diversified portfolio of senior secured and investment grade-rated loans.
CVC Credit is the credit management business of CVC (a leading global private markets manager with approximately €186 billion of AUM). And CVC Credit is a global credit asset manager with over 60 investment professionals.
Barclays served as lead arranger for CVC Credit’s second CLO pricing in North America this year.
KEY QUOTES:
“Apidos XLVIII was exceptionally well received by investors, demonstrating the confidence our investors have in CVC Credit’s disciplined and rigorous approach to credit investment and capital deployment.”
- Kevin O’Meara, Partner and Head of US Performing Credit at CVC Credit
“We are pleased to have priced our third new U.S. CLO of 2024 and our sixth globally, all before the end of H1. We are fortunate at CVC Credit to have an established track record and deep investor relationships who support our new issuance activities.”
- Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit
