CVC Credit priced Apidos XLII (Apidos 42), a collateralized loan obligation (CLO) fund totaling C$550 million ($405.5 million) and arranged by Barclays. This is the fourth U.S. new issue CLO and seventh overall priced by CVC Credit’s transatlantic performing credit platform this year, which together have an aggregate value of nearly $3.4 billion.
Apidos XLII will increase CVC Credit’s global AUM to more than $36 billion. The transaction, structured with a five-year reinvestment period, was well received and existing and new investors, and was syndicated to a group 26 distinct new and existing investors. Similar to previous Apidos funds, Apidos XLII is primarily comprised of broadly syndicated first lien senior secured loans.
“We are delighted to have been able to price Apidos XLII at such attractive levels during what has been a highly challenging market environment,” Cary Ho, partner and global head of CLO origination for performing credit at CVC Credit, said. “The continued support of our investors and CVC’s strong global network, have been central to our success in 2022 and were so again in upsizing and pricing this transaction.”
“Pricing seven new CLOs during such a challenging year is a real success story for our team,” Gretchen Bergstresser, partner and global head of performing credit at CVC Credit, said. “As we continue to build upon our position as one of the world’s leading CLO issuers, it has been essential to continue the strong momentum we built up in 2021.”
