CVC targets new senior tight with European CLO

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CVC targets new senior tight with European CLO

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Deutsche Bank with dark clouds on the horizon | Fabian Winkler/strangeways70 - stock.adobe.com

CVC Credit is marketing a new European CLO, CVC Cordatus XVIII, via Deutsche Bank, with initial price thoughts targeting a new Covid-19 era tight at 120bp-125bp. At the tight end of the range, this spread would be in line with Credit Suisse Asset Management’s Madison Park XV, which was issued in mid-March, just before the wrenching sell-off slammed the market window shut.

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