CVC Credit, the $43 billion dedicated credit strategy of CVC, successfully priced Apidos XLVII (47), a $507 million (€471 million) collateralized loan obligation (CLO). BNP Paribas acted as the lead arranger.
Apidos XLVII is the second new CLO priced by CVC Credit’s transatlantic performing credit platform this year, following the pricing of Cordatus Opportunities Loan Fund Re-issue last week. It has a five-year reinvestment period and was supported by a group of new and existing, valued investors. Apidos XLVII is mainly comprised of broadly syndicated first lien senior secured loans.
“We are pleased to have priced our first new U.S. CLO of 2024 so early in the year,” Kevin O’Meara, partner and global head of U.S. performing credit at CVC Credit, said. “Apidos XLVII was well-received by the market due to its clean portfolio and successful ramping of assets to date. We are fortunate at CVC Credit to have an established track record and deep investor relationships to help us continue to grow our CLO business through market cycles.”
“The successful pricing of Apidos XLVII is testament to the unparalleled demand our global investors have shown for the attractive, consistent and market-leading performance our CLOs continue to generate,” Gretchen Bergstresser, managing partner and global head of performing credit at CVC Credit, said. “We’re excited about the outlook for CLOs in the year ahead as more participants return to the market.”
