NEW YORK--(BUSINESS WIRE)--CVC Credit, the $43bn global credit management business of CVC, is pleased to announce that it has successfully priced Apidos XLVIII (48), a new $500m (c.€460m) Collateralized Loan Obligation ("CLO"). Barclays served as lead arranger for CVC Credit’s second CLO pricing in North America this year.
This is the sixth new CLO priced by CVC in 2024, which together have an aggregate value of c.$2.9bn (c.€2.7bn). Apidos XLVIII has a five-year reinvestment period and two-year non-call structure that is supported by an actively managed, diversified portfolio of senior secured and investment grade-rated loans.
Kevin O’Meara, Partner and Head of US Performing Credit at CVC Credit, said: “Apidos XLVIII was exceptionally well received by investors, demonstrating the confidence our investors have in CVC Credit’s disciplined and rigorous approach to credit investment and capital deployment.”
Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, said: “We are pleased to have priced our third new U.S. CLO of 2024 and our sixth globally, all before the end of H1. We are fortunate at CVC Credit to have an established track record and deep investor relationships who support our new issuance activities.”
About CVC Credit
CVC Credit is the credit management business of CVC, a leading global private markets manager with approximately €186 billion of assets under management. CVC Credit is a global credit asset manager with more than 60 investment professionals and €40 billion assets under management. The platform seeks to generate positive absolute returns and attractive risk-adjusted returns on capital for its investors throughout the credit cycle. CVC Credit has built a diverse business which creates significant synergies across its investment strategies. For further information about CVC Credit please visit: www.cvc.com/strategies/credit/. Follow us on LinkedIn.