CVC Credit Partners European Opportunities - Floating rate advantage in 2022
Despite the COVID-19 challenge, 2021 was a good year for CVC Credit Partners European Opportunities (CCPEOL). NAV total return was 12.2%, outperforming the high-yield debt indices. While the manager remained positive throughout 2021, the portfolio closed the year more defensively – the credit opportunities basket was 49% of gross assets versus 67% in February and 55% in July. Management is nevertheless encouraged by the supportive economic outlook, the floating rate nature of leveraged loans and active corporate loan debt markets. CCPEOL’s dividend yields are 4.7% and 5.1% on its sterling and euro shares, respectively.CVC Credit Partners European Opportunities is a closed-ended investment company limited by shares. Co. invests predominantly in companies domiciled, or with material operations, in Western Europe across various industries. Co.'s investments are focused on senior secured obligations of such companies but investments are also made across the capital structure of such borrowers.
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