CVC Cordatus Loan Fund XXVII DAC: 06 June 2023
Another managed cash flow CLO from CVC Credit Partners Investment Management Limited, where at least 90% of the portfolio must consist of Senior Secured Obligations and up to 10% of the portfolio may consist of Senior Unsecured Obligations, Second-Lien Loans, Mezzanine Obligations and High Yield Bonds.
CVC Credit invests in companies across the sub-investment grade corporate credit markets in Europe and North America, with a strong focus on downside protection through active risk management.
The transaction features a Non-Call Period until May 2025, and a re-investment period which ends in May 2027.
Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit, said: “We are delighted to have priced our second European CLO of the year, building on the over €10 billion of European CLO AUM we achieved for the first time earlier this year. Our latest CLO pricing reflects the depth and experience of the CVC Credit platform to price new vehicles through market fluctuations. While the market remains challenging, we managed to swiftly ramp the portfolio at an attractive weighted average price.”