The reset and upsize of Cordatus X (10) is CVC Credit’s first pricing of 2025 and follows a busy year in 2024, with $11bn of CLO activity across 25 transactions
CVC Credit, the €41bn ($45bn) global credit management business of CVC, is pleased to announce that it has priced the reset and upsize of Cordatus X (10) Collateralized Loan Obligation ("CLO") vehicle, to €450m (c.$475m).
This transaction marks the first CLO pricing of 2025 for CVC Credit, following a busy year in 2024, which saw CVC Credit's CLO team price 25 transactions with an aggregate volume of approximately €10.2bn ($11bn), making it one of the most active CLO managers globally in 2024.
We are delighted to have priced the reset and upsize of Cordatus X, increasing the size of the vehicle by €90m to €450m and optimising the portfolio. It’s great to be off the mark in 2025.
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 the reset and upsize of Cordatus X, increasing the size of the vehicle by €90m to €450m and optimising the portfolio. It’s great to be off the mark in 2025.”
Gretchen Bergstresser, Managing Partner and Global Head of Performing Credit at CVC Credit said: “At CVC Credit we are great believers in actively managing our existing CLO vehicles by continuously evaluating and executing opportunities that enhance the return profiles for our investors through resets, refinancings and/or reissues. Cordatus X is a classic example of this.”