CDOs/CLOs

摘要

Cvc cordatus loan fund Ⅲ, the €450m CLO from cvc credit partners, priced last Thursday through Goldman Sachs. The Triple A, Double A and Single A bonds were offered in floating at fixed format, with the lead manager offering full disclosure of pricing terms - something that most banks decline to do. The Class A-1 and Class A-2 were sized at €235.5m and €21.5m and came at coupons of Euribor plus 135bp and 2.61% at prices of 99.70 and par to offer spreads of 140bp. The B-1 and B-2 notes, for €38m and €14.5m, came with coupons of Euribor plus 180bp and 3.42% at prices of 98.62 and par with spreads of 200bp.