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CVC Credit prices latest CLO at 502m euros

CVC Credit has priced its second new collateralized loan obligation of this year at 502 million euros.

CVC Credit has priced its second new collateralized loan obligation of this year at 502 million euros. Jefferies arranged Cordatus XXIII, the latest CLO. Cordatus XXIII is primarily comprised of broadly syndicated first lien senior secured loans.

PRESS RELEASE

CVC Credit is pleased to announce that it has priced Cordatus XXIII, a Collateralized Loan Obligation (“CLO”) fund totalling €502m, arranged by Jefferies. This is the second new CLO fund CVC Credit has announced globally this year, both of which have priced in the last week. Together these new funds have an aggregate value of nearly €1bn.

Cordatus XXIII was upsized by €100m due to strong support from a diverse book of both new and longstanding investors. As with previous Cordatus funds, Cordatus XXIII is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit, said: “We are thrilled to have priced our first European CLO of 2022, building on our considerable success in 2021 and setting a strong path for 2022. We are especially pleased with the strength of support we have seen from new and existing investors, enabling us to upsize by €100m, despite the challenging market conditions.”

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit, said: “Despite market conditions 2022 has started successfully having just priced our newest US focused Apidos CLO last week. We were delighted with our record performance in 2021, and having already raised nearly €1bn in 2022, we cautiously hope 2022 will continue in a similar vein across our transatlantic platform.”

About CVC Credit
CVC Credit is the dedicated credit management business of CVC. CVC Credit is a global credit asset manager with offices in the U.S. and Europe and 60 investment professionals. CVC Credit is focussed on Performing Credit and Private Credit and benefits from the broad experience of CVC’s local investment teams, as well as the unique access to the accumulated knowledge within the broader CVC platform: www.cvc.com/credit.