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CVC Credit prices latest CLO

CVC Credit has priced its latest collateralized loan obligation Apidos XXXIX at $508 million.

CVC Credit has priced its latest collateralized loan obligation Apidos XXXIX at $508 million. Apidos XXXIX is primarily comprised of broadly syndicated first lien senior secured loans. The transaction has been structured with a five-year reinvestment period.

PRESS RELEASE

CVC Credit is pleased to announce that it has priced Apidos XXXIX, a Collateralized Loan Obligation (“CLO”) fund totalling c.$508 million, arranged by Societe Generale. This is the first new issue CLO CVC Credit has priced globally this year, following a record year in 2021, which saw CVC Credit raise seven new issue CLOs with a total value of over $3.5 billion (c.€3 billion).

Apidos XXXIX will increase CVC Credit’s global AUM to over $30 billion (€26 billion). The transaction has been structured with a five-year reinvestment period and was well-received by investors, and priced at the tight end of the market. As with previous Apidos funds, Apidos XXXIX is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
Cary Ho, Partner and Global Head of CLO origination for Performing Credit at CVC Credit, said: “We are delighted to not only have successfully priced our first new U.S. CLO of 2022, but having done so with such a wide base of both new and existing global investors and pricing at market tight levels.”

Gretchen Bergstresser, Partner and Global Head of Performing Credit at CVC Credit, commented: “2021 was a record year for us with seven new CLOs raised and a total of 26 transactions including resets and refinancings and it’s fantastic to get this year started with another brand new CLO. This terrific result is thanks to the hard work and collaboration of our dedicated teams in New York and London, and we remain very grateful to our investors and the market for their unwavering support of our transatlantic platform.”