CVC Credit, the c.$60 billion (€52 billion) global credit management business of CVC, successfully priced Apidos LVIII (58), a new $550 million collateralized loan obligation (CLO) vehicle. Apidos LVIII is CVC Credit’s third U.S. new issue CLO and its fourth new issue globally this year.
CVC Credit continues to see strong demand for its CLOs despite volatile market conditions, with Apidos LVIII well received by investors across the entire capital structure and pricing at market tights. The CLO has a five-year reinvestment period and a two-year non-call period. Bank of America served as lead arranger.
“Pricing our third U.S. new issue and fourth globally this year, we are proud to maintain a consistent and strong global platform that performs across market cycles and volatility,” Kevin O’Meara, managing partner and co-head of CVC Global Liquid Credit, said. “We were particularly pleased to see broad participation across the capital structure and continued support from longstanding equity investors. We are focused on maintaining this momentum through the second half of the year.”
