CVC Said to Raise First U.S. Collateralized Loan Deal of 2015
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A unit of private-equity firm CVC Capital Partners raised a $509.3 million collateralized loan obligation, the first new U.S. deal of 2015 in the market that bundles high-yield, high-risk loans into securities.
The transaction by CVC Credit Partners LLC includes a $320 million piece with top AAA ratings that pays investors 1.55 percentage points more than the London interbank offered rate, according to a person with knowledge of the deal, who asked not to be identified because the terms are private. Credit Suisse Group AG arranged the fund, the person said.