CVC Credit Prices $500m Apidos XLIX

CVC Credit, the $45bn global credit management business of CVC, is pleased to announce that it has successfully priced Apidos XLIX (49), a new $500m (c.€460m) Collateralized Loan Obligation ("CLO"). BNP Paribas served as lead arranger for CVC Credit’s fourth CLO pricing in North America this year. 

This is the eighth new CLO of the year priced by CVC globally and fourth new US CLO issue for 2024 with an aggregate value of $2bn (c.€1.8bn). Apidos XLIX has a five-year reinvestment period and two-year non-call period that is supported by an actively managed, diversified portfolio of senior secured loans and bonds.

Kevin O’Meara, Partner and Head of US Performing Credit at CVC Credit, said: “Apidos XLIX was well-received by both existing and new investors, which reflects their confidence in CVC Credit’s performing credit strategy and our measured and structured investment approach across cycles. This successful issuance is indicative of the resilience of the U.S. CLO market, where new issue activity and positive return performance have remained buoyant throughout 2024.”

Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, added: “We appreciate the strong support we continue to receive from our global investor base following the pricing of our eighth new CLO this year. Our team remains committed to delivering consistent performance through all of our CLO’s actively managed, scalable and diversified pool of senior-secured floating rate loans.”

CVC Credit has nearly 20 years of experience in successful CLO issuance, performing credit and portfolio management, with proven experience in delivering attractive risk-adjusted performance through varied credit market cycles.

About CVC Credit
CVC Credit is the credit management business of CVC, a leading global private markets manager with approximately €193 billion of assets under management. CVC Credit is a global credit asset manager with more than 60 investment professionals and €42 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.