CVC Credit, the €45 billion global credit management business of CVC, has successfully priced Cordatus XXXIV (34), a new €475m (c.$500m) Collateralized Loan Obligation ("CLO") vehicle and CVC Credit's first new issue CLO of 2025.
Cordatus XXXIV was oversubscribed and has one of the tightest cost of debt of any new issue European CLO since 2021. The vehicle has a four-and-a-half year reinvestment period and a one-and-a-half year non-call structure with over 60% of assets already sourced. Jefferies served as the lead arranger.
We are delighted to have priced our first new European CLO of the year, a move that further consolidates CVC Credit’s position as one of the leading CLO managers in Europe.
Guillaume Tarneaud Partner and Head of European Performing Credit at CVC Credit
Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit, said: “We are delighted to have priced our first new European CLO of the year, a move that further consolidates CVC Credit’s position as one of the leading CLO manager in Europe. The transaction was oversubscribed and as a result priced with one of the tightest cost of debt of any new CLO issued in Europe since 2021.”
Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit, added: “This is our first new CLO pricing of 2025 following a very active 2024, with 25 transactions taking place across the year. It is essential to continue the momentum from 2024, which was made possible with the combined strengths of our teams in London and New York.”