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Carlyle to sell $408.25 million CLO; CVC prices $600.6 million in refinancing of notes
By Rebecca Melvin
New York, Sept. 17 – Pricings of collateralized loan obligations and prepping of such deals continued apace on Monday.
CVC Credit Partners LLC refinanced $600.6 million of notes, which will now mature on Oct. 22, 2030. The CLO will have a five-year reinvestment period and a two-year non-call period.
The 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.
It also priced $39 million of class C mezzanine deferrable floating-rate notes at Libor plus 225 bps and $33 million of class D mezzanine deferrable floating-rate notes 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.
Also on Monday there was word of an upcoming CLO for Carlyle Investment Management LLC subsidiary Carlyle CLO Management LLC.
The manager plans to price a $408.25 million CLO, including $244 million of class A-1a floating-rate notes, $18 million of class A-1b floating-rate notes, $39.8 million of class A-2 floating-rate notes and $20 million of class B floating-rate notes at the top of the stack of the broadly syndicated Carlyle US CLO 2018-3 Ltd./Carlyle US CLO 2018-3 LLC CLO.
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