Apidos XLIV (44) is the third successful new issue CLO priced by CVC’s $38 billion global Credit platform in 2023
CVC Credit is pleased to announce that it has priced Apidos XLIV (44), a Collateralized Loan Obligation (“CLO”) fund totalling c.$400 million (c.€ 372 million). Bank of America acted as lead arranger.
Apidos XLIV is the third CLO priced by CVC Credit’s transatlantic performing credit platform in 2023, together, these new vehicles have an aggregate value of over $1.3 billion. (c.€1.2 billion). The transaction was structured with a three-year reinvestment period that generated strong demand from a broad group of investors. Apidos XLIV is primarily composed of broadly syndicated First Lien Senior Secured Loans.
Cary Ho, Partner and Global Head of CLO origination for Performing Credit at CVC Credit, said: “We are pleased to have successfully invested in a portfolio of high quality assets for Apidos XLIV at attractive prices in such a short time frame in spite of recent near-term disruption in global credit markets.”
We are pleased to have priced our third new CLO vehicle of 2023, continuing to build upon the momentum we built up in 2022 and 2021.Gretchen Bergstresser
Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, said: “We are pleased to have priced our third new CLO vehicle of 2023, continuing to build upon the momentum we built up in 2022 and 2021. This latest pricing showcases experience of our transatlantic platform to assess and price risk swiftly regardless of market conditions.”