ZCCP Announces the Closing of $201.5 Million Refinancing of 2021-1 Structured Vehicle
23 Julio 2024 - 7:30AM
Business Wire
Z Capital Credit Partners, L.L.C. ("ZCCP"), the credit fund
management arm of Z Capital Group, L.L.C. ("ZCG"), announced today
the successful refinancing of $201.5 million of its ZCCP 2021-1
CLO, which is managed by its affiliate, Z Capital CLO Management,
L.L.C. ("Z Capital CLO Management"). The transaction significantly
reduces the weighted average cost of liabilities.
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Issued in June 2021, the original $334.4 million ZCCP 2021-1 CLO
was structured with significant flexibility, including the ability
to invest up to 30 percent of its assets in Caa-rated loans. The
CLO primarily comprises senior secured loans with a four-year
investment period and an eight-year weighted average life.
Santander US Capital Markets acted as the arranger for both
transactions.
This refinancing follows ZCCP’s recent success in March 2024,
when it closed its fifth CLO issuance. The $331.3 million CLO,
managed by Z Capital CLO Management, is backed by a diversified
portfolio of broadly syndicated senior secured loans, further
solidifying ZCCP’s position as a leader in credit fund
management.
About ZCG
ZCG is a leading, privately held merchant bank comprised of
private markets asset management, business consulting services,
technology development and solutions.
ZCG’s investors are some of the largest and most sophisticated
global institutional investors including pension funds, endowments,
foundations, sovereign wealth funds, central banks, and insurance
companies.
For almost 30 years, ZCG Principals have invested tens of
billions in capital and have industry leading track records in
private equity and credit.
ZCG has a global team comprised of over 400 professionals. For
more information, please visit www.zcg.com.
About ZCCP
Z Capital Credit Partners, L.L.C. ("ZCCP") is the credit fund
management platform of ZCG that has industry leading returns. ZCCP
invests across a range of credit investments including leveraged
loans, private debt, direct lending, and opportunistic stressed
credit. ZCCP manages closed and open-ended funds as well as
structured vehicles for strategic debt.
ZCCP utilizes an approach of fundamental credit analysis,
developed over nearly 30 years, through proprietary sourcing,
sophisticated structuring and comprehensive risk management,
utilizing the Olympus™ system.
For almost 30 years, ZCCP Principals have deployed approximately
$26 billion in numerous industries.
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Tim Ragones / Kate Thompson Joele Frank, Wilkinson Brimmer
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