Chicago, May 15 – CVC Credit Partners, LLC sold $496.75 million in a collateralized loan obligation being issued by Apidos CLO XLV Ltd., according to a presale report and a press release.
The notes will mature on April 26, 2036.
The CLO consists of $315 million of class A-1 senior secured floating-rate notes at SOFR plus 190 basis points, $7.5 million of class A-2 senior secured floating-rate notes at SOFR plus 225 bps, $55 million of class B senior secured floating-rate notes at SOFR plus 255 bps, $28.75 million of class C mezzanine deferrable floating-rate notes at SOFR plus 330 bps, $30.5 million of class D mezzanine deferrable floating-rate notes at SOFR plus 520 bps, $17 million of class E mezzanine deferrable floating-rate notes at SOFR plus 840 bps, $500,000 of class F mezzanine deferrable floating-rate notes at SOFR plus 875 bps and $42.5 million of subordinated notes.
CVC Credit Partners, LLC will manage the collateral through the end of the reinvestment period on April 26, 2028.
Collateral for the notes consists of senior secured leveraged loans.
The notes can be called starting April 28, 2025.
BofA Securities, Inc. was the placement agent.
The subsidiary of London-based CVC Capital Partners Ltd. is based in New York City.
| Issuer: | Apidos CLO XLV Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $496.75 million
|
| Maturity: | April 26, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | CVC Credit Partners, LLC
|
| Call feature: | April 28, 2025
|
| Settlement date: | May 25
|
|
|
| Class A-1 notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $7.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $28.75 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 520 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $17 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 840 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $0.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 875 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $42.5 million
|
| Securities: | Subordinated notes
|
|
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