CVC Cordatus Loan Fund XI (2nd Refinance): 19 October 2025
The assets securing the Debt will consist of a portfolio of primarily Senior Secured Loans, Senior Secured Bonds, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by (a) prior to (but excluding) the Issue Date, CVC Credit Partners European CLO Management LLP and (b) on and after the Issue Date, CVC Credit Partners Investment Management Limited.
On 7 September 2018 (the Original Issue Date) CVC Cordatus Loan Fund XI issued Class A Senior Secured Floating Rate Notes due 2031, Class B-1 Senior Secured Floating Rate Notes due 2031, Class B-2 Senior Secured Fixed Rate Notes due 2031, Class C Senior Secured Deferrable Floating Rate Notes due 2031, Class D Senior Secured Deferrable Floating Rate Notes due 2031, Class E Senior Secured Deferrable Floating Rate Notes due 2031, Class F Senior Secured Deferrable Floating Rate Notes due 2031, M-1 Subordinated Notes due 2031 and M-2 Subordinated Notes due 2031.
On 17 March 2021 (the 2021 Refinancing Issue Date) the Issuer refinanced by issuing Class A Senior Secured Floating Rate Notes due 2031, Class B-1 Senior Secured Floating Rate Notes due 2031, Class B-2 Senior Secured Fixed Rate Notes due 2031, Class C Senior Secured Deferrable Floating Rate Notes due 2031 and Class D Senior Secured Deferrable Floating Rate Notes due 2031.
On 15 October 2025 (the 2025 Issue Date) the Issuer will, subject to certain conditions, refinance the 2021 Rated Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2039, Class B-R Senior Secured Floating Rate Notes due 2039, Class C-R Senior Secured Deferrable Floating Rate Notes due 2039, Class D-1-R Senior Secured Deferrable Floating Rate Notes due 2039, Class D-2-R Senior Secured Deferrable Floating Rate Notes due 2039, Class E-R Senior Secured Deferrable Floating Rate Notes due 2039, Class F-R Senior Secured Deferrable Floating Rate Notes due 2039 and Additional Subordinated Notes due 2039.
Also, subject to the Ordinary Resolution of the holders of the Original Subordinated Notes, the M-2 Subordinated Notes will be exchanged on the Issue Date for €1mln of Subordinated Notes due 2039, and certain amendments will be made to the Existing Subordinated Notes.