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CVC Credit prices $500m Apidos XLVIII

Friday, May 31, 2024
Opalesque Industry Update - 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."

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