News Briefs

CVC Credit prices latest CLO at $500m

Goldman Sachs arranged the CLO.

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  • This is the third new CLO priced by CVC Credit this year
  • According to CVC Credit, this CLO will increase its assets under management to $34 billion
  • Apidos XL is primarily comprised of broadly syndicated first lien senior secured loans

CVC Credit has priced its latest collateralized loan obligation Apidos XL at $500 million. Goldman Sachs arranged the CLO.

This is the third CLO priced by CVC Credit’s transatlantic performing credit business this year, following the pricing of Apidos XXXIX and Cordatus XXIII in February and March respectively.

Apidos XL will increase CVC Credit’s global AUM to over $34 billion. The transaction has been structured with a five-year reinvestment period. As with previous Apidos funds, Apidos XL is primarily comprised of broadly syndicated first lien senior secured loans.

On this transaction, Kevin O’Meara, a partner, portfolio manager and Head of the US performing credit business at CVC Credit, said in a statement: “We are delighted to have priced CVC Credit’s second US CLO of 2022 with the collective expertise of our investment, structuring and operations teams, and having done so despite such volatile market conditions is a real achievement.”