Chicago, Sept. 28 – CVC Credit Partners U.S. CLO Management LLC refinanced for $452.6 million the collateralized loan obligation issued by Apidos CLO XXXIII/Apidos CLO XXXIII LLC, according to a pre-sale report.
The notes will now mature on October 2034.
The refinanced CLO consists of $284.8 million of class A-R senior secured floating-rate notes at Libor plus 115 basis points, $58.8 million of class B-R senior secured floating-rate notes at Libor plus 160 bps, $27.1 million of class C-R senior secured deferrable floating-rate notes at Libor plus 190 bps, $27.1 million of class D-R senior secured deferrable floating-rate notes at Libor plus 300 bps, $18 million of class E-R senior secured deferrable floating-rate notes at Libor plus 635 bps and $36.8 million of subordinated notes.
The original transaction had $256 million of class A floating-rate notes at Libor plus 170 bps and $46 million of class B floating-rate notes at Libor plus 220 bps.
The CLO also originally priced $24 million of class C deferrable floating-rate notes at Libor plus 270 bps; $22 million of class D deferrable floating-rate notes at Libor plus 432 bps, $12 million of class E deferrable floating-rate notes at Libor plus 752 bps and $32.22 million of subordinated notes.
CVC Credit Partners U.S. CLO Management LLC will manage the collateral through the end of the reinvestment period on October 2026.
The portfolio is collateralized by a pool of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting September 2023.
Goldman Sachs & Co. LLC was the placement agent.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York City.
| Issuer: | Apidos CLO XXXIII/Apidos CLO XXXIII LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $452.6 million
|
| Maturity: | October 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | CVC Credit Partners U.S. CLO Management LLC
|
| Call feature: | September 2023
|
| Settlement date: | Sept. 29
|
|
|
| Class A-R notes
|
| Amount: | $284.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $58.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $27.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $27.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 635 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36.8 million
|
| Securities: | Subordinated notes
|
© 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.
