Spreads on triple-A US CLOs grind tighter with CVC Credit deal

By Paola Aurisicchio
12 Oct 2020

Spreads on primary triple-A rated CLO paper moved tighter with the latest deal from CVC Credit Partners, priced on Friday, as managers look to get deals done in the narrow window before the US presidential election on November 3.

CVC Credit priced a $402.5m CLO called Apidos XXXIV, arranged by Deutsche Bank, that includes $221m senior notes and was sold at 127bp over three month Libor.

The deal was the second new US CLO during the coronavirus crisis from CVC Credit and it follows the issuer’s recent European ...

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