CVC Credit priced Apidos XXXVII, a collateralized loan obligation fund totalling $506 million. CVC Credit has priced five CLO funds globally this year with an aggregate value of $2 billion.
Apidos XXXVII will increase CVC Credit’s global CLO assets under management to more than
$21 billion. Arranged by Deutsche Bank, the transaction was structured with a five-year reinvestment period and priced at the tight end of the market. Apidos XXXVII is primarily comprised of broadly syndicated first lien senior secured loans.
“We are pleased not only to have successfully priced our third new U.S. CLO of 2021, but also to have raised it from a diverse base of both new and existing investors,” Kevin O’Meara, partner and portfolio manager at CVC Credit, said.
“The significant growth of our platform in the past 12 months is testament to the success and hard work of our team,” Gretchen Bergstresser, partner and global head of performing credit at CVC Credit, said. “To say we have been busy this year would be an understatement — this is our 20th transaction of 2021. We see no let-up in market activity in the short term and expect to continue to price new and to refinance more of our existing funds in the remaining months of the year.”
