By Rebecca Melvin
New York, Sept. 17 – CVC Credit Partners LLC priced $600.6 million of notes in the Apidos CLO XVIII-R collateralized loan obligation offering, a refinancing of an earlier issue, according to a market source on Monday.
Apidos CLO XVIII-R priced $6 million of class X amortizing senior secured floating-rate notes at Libor plus 60 basis points, $365.95 million of class A-1 senior secured floating-rate notes at Libor plus 114 bps, $24 million of class A-2 senior secured floating-rate notes at Libor plus 145 bps and $63 million of class B senior secured floating-rate notes at Libor plus 165 bps.
The $39 million of class C mezzanine deferrable floating-rate notes priced at Libor plus 225 bps, while the $33 million of class D mezzanine deferrable floating-rate notes were sold at Libor plus 315 bps.
The CLO also placed $24.6 million of class E mezzanine deferrable floating-rate notes at Libor plus 570 bps, $11.5 million of class F mezzanine deferrable floating-rate notes at Libor plus 805 bps and $33.55 million of additional subordinated notes.
The CLO will have a five-year reinvestment period and a two-year non-call period.
The maturity date is Oct. 22, 2030.
| Issuer: | Apidos CLO XVIII-R
|
| Amount: | $600.6 million
|
| Maturity: | Oct. 22, 2030
|
| Securities: | Floating-rate and subordinated notes refinancing
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Barclays
|
| Manager: | CVC Credit Partners LLC
|
| Call feature: | After two years
|
| Settlement date: | Oct. 22
|
|
|
| Class X notes
|
| Amount: | $6 million
|
| Securities: | Amortizing senior secured floating-rate notes
|
| Coupon: | Libor plus 60 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $365.95 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 114 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $63 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Not-rated
|
|
|
| Class C notes
|
| Amount: | $39 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
|
|
| Class D notes
|
| Amount: | $33 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
|
|
| Class E notes
|
| Amount: | $24.6 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 570 bps
|
|
|
| Class F notes
|
| Amount: | $11.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 805 bps
|
|
|
| Equity
|
| Amount: | $33.55 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
© 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.
