European CLO manager CVC Credit Partners is preparing its first broadly syndicated loan portfolio of 2016 that will issue €400 million (US$447.3 million) in euro-denominated bonds.

CVC has already acquired 56% of the target portfolio of €411 million in loans for CVC Cordatus Loan Fund VI, and has identified another 24% of the portfolio’s target par amount. Moody’s Investors Service stated the UK-based manager will obtain the assets by the undetermined closing date. Most of the loans will be Europe-based, with about 10% obtained from U.S. issuers.  

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