CVC Credit has priced its latest collateralized loan obligation at 406 million euros. Cordatus XXI is the fourth new CLO priced by CVC Credit this year. Barclays arranged the CLO. As with previous Cordatus CLOs, the fund is primarily comprised of broadly syndicated first lien senior secured loans. According to CVC Credit, this CLO will raise its assets under management to over $29.5 billion.
CVC Credit is pleased to announce that it has priced Cordatus XXI, a Collateralized Loan Obligation (“CLO”) fund totalling €406 million and arranged by Barclays. This is the fourth new CLO fund CVC Credit has priced globally this year and will take assets under management to over $29.5 billion.
Cordatus XXI was significantly oversubscribed and raised from a blue-chip investor base of both new and existing investors. As with previous Cordatus CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
Guillaume Tarneaud, Partner and Portfolio Manager at CVC Credit, said: “We are delighted to have priced our latest European CLO, which increases our leadership position in Europe. We now manage more than $9 billion of aggregate European CLO AUM, and in the year to date have priced transactions with an aggregate value of more than $4.4 billion.”
Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit, said: “It has been an extremely busy and successful start to the year for CVC Credit. When taking into account fund refinancings, this is our sixteenth CLO transaction in 2021 with an aggregate value of over $7.6 billion. We are delighted with this progress and we have now achieved more than $21 billion of global CLO AUM. However, there is plenty more to come and we will continue working hard to ramp this even further in the coming months.”