By Cristal Cody
Eureka Springs, Ark., Nov. 30 – CVC Credit Partners, LLC refinanced $410 million of collateralized loan obligation notes due April 17, 2026 at par in a vintage 2014 transaction, according to a market source.
Apidos CLO XVII/Apidos CLO XVII LLC priced $314 million of class A-1-R senior secured floating-rate notes at Libor plus 131 basis points, $67.5 million of class A-2-R senior secured floating-rate notes at Libor plus 185 bps and $28.5 million of class B-R mezzanine deferrable floating-rate notes at Libor plus 250 bps.
BofA Merrill Lynch arranged the refinancing.
CVC Credit Partners is the CLO manager.
The CLO manager has priced two new CLOs and refinanced two CLOs year to date.
The New York-based subsidiary of London-based CVC Capital Partners Ltd. placed three new CLO deals and one refinanced CLO in 2015.
| Issuer: | Apidos CLO XVII/Apidos CLO XVII LLC
|
| Amount: | $410 million refinancing
|
| Maturity: | April 17, 2026
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | BofA Merrill Lynch
|
| Manager: | CVC Credit Partners, LLC
|
| Refinancing date: | Nov. 9
|
|
|
| Class A-R notes
|
| Amount: | $314 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 131 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class A-2-R notes
|
| Amount: | $67.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class B-R notes
|
| Amount: | $28.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Price: | Par
|
| Rating: | Moody’s: A2 expected
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
