Chicago, Jan. 27 – Onex Credit Partners, LLC refinanced for $418.9 million a collateralized loan obligation issued by OCP CLO 2015-10 Ltd./OCP CLO 2015-10 Corp., according to multiple notices.
The notes will mature on Jan. 26, 2034.
The CLO now consists of $4 million of class X senior secured floating-rate notes at Libor plus 75 basis points, $176 million of class A-1-R2 senior secured floating-rate notes at Libor plus 109 bps, $84 million of class A-2-R2 senior secured floating-rate notes at SOFR plus 124 bps, $44 million of class B-R2 senior secured floating-rate notes at Libor plus 165 bps, $24 million of class C-R2 senior secured deferrable floating-rate notes at Libor plus 205 bps, $23.5 million of class D-R2 senior secured deferrable floating-rate notes at Libor plus 295 bps, $16.5 million of class E-R2 senior secured deferrable floating-rate notes at Libor plus 650 bps and $46.9 million of subordinated notes.
The CLO was originally issued in 2015 and refinanced in 2017.
Onex Credit Partners, LLC will manage the collateral through the end of the reinvestment period on Three years.
Collateral backing the notes will consist of first-lien senior secured leveraged loans.
Nomura Securities International, Inc. was the placement agent.
Onex is a Toronto-based private equity firm.
| Issuer: | OCP CLO 2015-10 Ltd./OCP CLO 2015-10 Corp.
|
| Issue: | Floating-rate notes and preference shares
|
| Amount: | $418.9 million
|
| Maturity: | Jan. 26, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International, Inc.
|
| Manager: | Onex Credit Partners, LLC
|
| Settlement date: | Dec. 3
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: NR
|
|
|
| Class A-1-R2 notes
|
| Amount: | $176 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 109 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: NR
|
|
|
| Class A-2-R2 notes
|
| Amount: | $84 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 124 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: NR
|
|
|
| Class B-R2 notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Moody's: NR
|
| Fitch: AA
|
|
|
| Class C-R2 notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Moody's: NR
|
| Fitch: A+
|
|
|
| Class D-R2 notes
|
| Amount: | $23.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 295 bps
|
| Rating: | Moody's: NR
|
| Fitch: BBB+
|
|
|
| Class E-R2 notes
|
| Amount: | $16.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: NR
|
|
|
| Subordinated notes
|
| Amount: | $46.9 million
|
| Securities: | Subordinated notes
|
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