CVC Credit, the $45 billion global credit management business of CVC, has successfully priced Apidos XLIX (49), a new $500 million collateralized loan obligation (CLO). BNP Paribas served as lead arranger for CVC Credit’s fourth CLO pricing in North America this year.
This is the eighth new CLO of the year priced by CVC globally and fourth new U.S. CLO issue for 2024 with an aggregate value of $2 billion. Apidos XLIX has a five-year reinvestment period and two-year non-call period that is supported by an actively managed, diversified portfolio of senior secured loans and bonds.
“Apidos XLIX was well-received by both existing and new investors, which reflects their confidence in CVC Credit’s performing credit strategy and our measured and structured investment approach across cycles,” Kevin O’Meara, partner and head of U.S. performing credit at CVC Credit, said. “This successful issuance is indicative of the resilience of the U.S. CLO market, where new issue activity and positive return performance have remained buoyant throughout 2024.”
“We appreciate the strong support we continue to receive from our global investor base following the pricing of our eighth new CLO this year,” Gretchen Bergstresser, managing partner and global head of performing credit at CVC Credit, said. “Our team remains committed to delivering consistent performance through all of our CLO’s actively managed, scalable and diversified pool of senior-secured floating rate loans.”
