CVC Cordatus Loan Fund V to redeem several classes of notes July 21

By Susanna Moon

Chicago, June 9 – CVC Cordatus Loan Fund V Ltd. has called its class A-1, class A-2, class B-1, class B-2, class C, class D, class E and class F securities, which will be redeemed via a refinancing.

The notes will be redeemed on July 21 at the direction of its subordinated noteholders holding €47.8 million subordinated notes due 2029, according to a company notice.

Citibank, NA, London Branch is the trustee and principal paying agent. CVC Credit Partners Group Ltd. is the collateral manager.

CVC said that it planned to refinance its collateralized loan obligations and that it had asked its subordinated holders to contact the collateral manager, CVC Credit Partners Group Ltd.

The issuer priced €463.47 million of notes due July 23, 2029 in April 2015.

The CLO included €264.74 million of class A-1 senior secured floating-rate notes at Euribor plus 130 basis points, €5.27 million of 1.5% class A-2 senior secured fixed-rate notes, €36.87 million of class B-1 senior secured floating-rate notes at Euribor plus 200 bps, €12.64 million of 2.4% class B-2 senior secured fixed-rate notes, €27 million of class C senior secured deferrable floating-rate notes at Euribor plus 290 bps priced at 99.35, €25.25 million of class D senior secured deferrable floating-rate notes at Euribor plus 355 bps priced at 98.64, €28.75 million of class E senior secured deferrable floating-rate notes at Euribor plus 500 bps priced at 95.58 and €15.15 million of class F senior secured deferrable floating-rate notes at Euribor plus 650 bps priced at 91.37.

The deal also included €47.8 million of subordinated notes.

Citigroup Global Markets Inc. arranged the offering.

Subordinated noteholders are asked to contact Harrison Wood of CVC Credit Partners (+44 1534 609010 or harrison.wood@ais.statestreet.com).

© 2015 Prospect News.
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