ZCCP Announces the Closing of $201.5 Million Refinancing of 2021-1 Structured Vehicle
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.
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.
