Chicago, July 7 – CVC Credit Partners, LLC sold $504.215 million in a collateralized loan obligation being issued by Apidos CLO XLVI Ltd./Apidos CLO XLVI LLC, according to presale reports.
The notes will mature in October 2036, but on Oct. 24, 2035 for class A-1 notes.
The CLO consists of $307.5 million of class A-1 senior secured floating-rate notes at SOFR plus 170 basis points, $12.5 million of class A-2 senior secured floating-rate notes at SOFR plus 215 bps, $58.5 million of class B secured floating-rate notes at SOFR plus 250 bps, $29.75 million of class C mezzanine deferrable floating-rate notes at SOFR plus 300 bps, $31.75 million of class D mezzanine deferrable floating-rate notes at SOFR plus 510 bps, $15 million of class E mezzanine deferrable floating-rate notes at SOFR plus 825 bps, $500,000 of class F mezzanine deferrable floating-rate notes at SOFR plus 858 bps and $48.715 million of subordinated notes.
CVC Credit Partners, LLC will manage the collateral through the end of the reinvestment period in October 2028.
Collateral for the notes consists of non-investment-grade broadly syndicated loans and other assets.
The notes can be called starting in October 2025.
SG Americas Securities, LLC was the placement agent.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York City.
| Issuer: | Apidos CLO XLVI Ltd./Apidos CLO XLVI LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $504.215 million
|
| Maturity: | October 2036, Oct. 24, 2035 for class A-1 notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | SG Americas Securities, LLC
|
| Manager: | CVC Credit Partners, LLC
|
| Call feature: | October 2025
|
| Settlement date: | Aug. 24
|
|
|
| Class A-1 notes
|
| Amount: | $307.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Maturity: | Oct. 24, 2035
|
| Coupon: | SOFR plus 170 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $58.5 million
|
| Securities: | Secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $29.75 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $31.75 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 510 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 825 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $500,000
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 858 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $48.715 million
|
| Securities: | Subordinated notes
|
|
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