Chicago, April 29 – Onex Credit Partners, LLC refinanced €397.7 million from the collateralized loan obligation that lists OCP Euro CLO 2019-3 DAC as issuer, according to a notice.
The maturity date has been extended three years to April 20, 2033.
The refinancing notes are the €2.4 million of class X senior secured floating-rate notes at Euribor plus 30 basis points, €266 million of class A senior secured floating-rate notes at Euribor plus 82 bps, €26.4 million of class B-1 senior secured floating-rate notes at Euribor plus 160 bps and €10 million of class B-2 1.87% senior secured fixed-rate notes.
Additionally, lower there are €25.1 million of class C senior secured deferrable floating-rate notes at Euribor plus 230 bps, €32 million of class D senior secured deferrable floating-rate notes at Euribor plus 330 bps, €24.5 million of class E senior secured deferrable floating-rate notes at Euribor plus 602 bps and €11.3 million of class F senior secured deferrable floating-rate notes at Euribor plus 859 bps.
€37.9 million of subordinated notes from the original transaction remain outstanding.
The reinvestment period has been extended 4.25 years.
Onex Credit Partners, LLC continues as the manager of the collateral, primarily senior secured loans or senior secured bonds.
Originally, the CLO sold €255 million of class A senior secured floating-rate notes at Euribor plus 94 bps, €39.9 million of class B-1 senior secured floating-rate notes at Euribor plus 180 bps and €15 million of 2.45% class B-2 senior secured fixed-rate notes.
The CLO also originally sold €25.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 250 bps; €24.4 million of class D senior secured deferrable floating-rate notes at Euribor plus 380 bps; €23.6 million of class E senior secured deferrable floating-rate notes at Euribor plus 585 bps; €10.1 million of class F senior secured deferrable floating-rate notes at Euribor plus 830 bps and €37.9 million of subordinated notes.
The private equity firm is based in Toronto.
| Issuer: | OCP Euro CLO 2019-3 DAC
|
| Issue: | Floating-rate and fixed-rate notes
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| Structure: | Cash flow CLO
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| Amount: | €397.7 million
|
| Maturity: | April 20, 2033
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| Agent:
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| Manager: | Onex Credit Partners, LLC
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| Call:
|
| Announcement date: | April 20
|
| Settlement date: | April 20
|
|
|
| Class X notes
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| Amount: | €2.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 30 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
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| Amount: | €266 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Euribor plus 82 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
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| Amount: | €26.4 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | Euribor plus 160 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
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| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
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| Coupon: | 1.87%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
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| Amount: | €25.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Euribor plus 230 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
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| Amount: | €32 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Euribor plus 330 bps
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| Rating: | Moody's: Baa3
|
|
|
| Class E notes
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| Amount: | €24.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Euribor plus 602 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
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| Amount: | €11.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Euribor plus 859 bps
|
| Rating: | Moody's: B3
|
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