Chicago, Feb. 8 – Onex Credit Partners, LLC sold $400.8 million in a collateralized loan obligation issued by OSD CLO 2021-23, Ltd., according to a pre-sale report.
The notes will mature on April 17, 2031.
The CLO consists of $272 million of class A floating-rate notes at Libor plus 87 basis points, $48 million of class B floating-rate notes at Libor plus 152 bps, $24 million of class C floating-rate notes at Libor plus 205 bps, $14 million of class D floating-rate notes at Libor plus 295 bps, $14 million of class E floating-rate notes at Libor plus 600 bps and $28.8 million of subordinated notes.
Onex Credit Partners, LLC will manage the collateral through the end of the 0.8-year reinvestment period.
Onex is a Toronto-based private equity firm.
| Issuer: | OSD CLO 2021-23, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $400.8 million
|
| Maturity: | April 17, 2031
|
| Structure: | Cash flow CLO
|
| Manager: | Onex Credit Partners, LLC
|
| Settlement date: | Dec. 23
|
|
|
| Class A notes
|
| Amount: | $272 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 87 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 152 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $14 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 295 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 600 bps
|
| Rating: | Fitch: BB+
|
|
|
| Subordinated notes
|
| Amount: | $28.8 million
|
| Securities: | Subordinated notes
|
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