CVC Credit, the $41 billion global credit management business of CVC, priced Apidos XLVI (46) a $504 million collateralized loan obligation (CLO). Societe Generale acted as lead arranger.
This is CVC Credit’s seventh new CLO priced globally this year, which together have an aggregate value of $3.1 billion.
Apidos XLVI will be the 12th new CLO supported by CVC Credit’s dedicated CLO equity vehicle, CVC CLO Equity III, which invests in the majority equity investments in CVC-managed CLOs issued in the U.S. and Europe. CVC CLO Equity III also announced its final close at its hard cap with $800 million of commitments. Across its period of deployment, this equity strategy is intended to support more than $10 billion of global CLO issuance for CVC Credit’s performing credit platform.
“We remain dedicated to assembling high-quality portfolios and attractive yields to our investors throughout business cycles,” Cary Ho, partner and global head of CLO origination for performing credit at CVC Credit, said. “This is the fourth new U.S. CLO vehicle we have priced this year and our seventh globally, a result we could not have achieved without the strong support of the market and the investors of CVC CLO Equity III, which recently closed with $800 million of commitments.”
“We’re grateful for the strong support shown by both our new and returning investors in the continued expansion of CVC’s transatlantic platform, reflecting the positive growth trajectory our team has achieved in a challenging macroeconomic environment,” Gretchen Bergstresser, managing partner and global head of performing credit at CVC Credit, said.
