Chicago, March 14 – Onex Credit Partners, LLC refinanced for $432.5 million the collateralized loan obligation issued by OCP CLO 2015-9 Ltd./OCP CLO 2015-9 Corp., according to multiple press releases.
The notes will mature on Jan. 15, 2033.
The CLO consists of $4 million of class X senior secured floating-rate notes at SOFR plus 75 basis points, $248 million of class A-1-R2 senior secured floating-rate notes at SOFR plus 125 bps, $12 million of class A-2-R2 senior secured floating-rate notes at SOFR plus 155 bps, $44 million of class B-R2 senior secured floating-rate notes at SOFR plus 175 bps, $24 million of class C-R2 senior secured deferrable floating-rate notes at SOFR plus 215 bps, $24 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 315 bps, $16 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 680 bps, $15.1 million of subordinated notes and $45.4 million of preference shares.
Onex Credit Partners, LLC will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of syndicated senior secured corporate loans.
Citibank, NA was the placement agent.
Onex is a Toronto-based private equity firm.
Issuer: | OCP CLO 2015-9 Ltd./OCP CLO 2015-9 Corp.
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Issue: | Floating-rate notes, subordinated notes and preference shares
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Amount: | $432.5 million
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Maturity: | Jan. 15, 2033
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Structure: | Cash flow CLO
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Placement agent: | Citibank, NA
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Manager: | Onex Credit Partners, LLC
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Settlement date: | March 9
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Class X notes
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Amount: | $4 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 75 bps
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Rating: | Fitch: AAA
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Class A-1-R2 notes
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Amount: | $248 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 125 bps
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Rating: | Fitch: AAA
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Class A-2-R2 notes
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Amount: | $12 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 155 bps
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Rating: | Fitch: AAA
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Class B-R2 notes
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Amount: | $44 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 175 bps
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Rating: | Fitch: AA
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Class C-R2 notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 215 bps
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Rating: | Fitch: A
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Class D-R notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 315 bps
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Rating: | Fitch: BBB-
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Class E-R notes
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Amount: | $16 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 680 bps
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Rating: | Fitch: BB-
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Subordinated notes
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Amount: | $15.1 million
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Securities: | Subordinated notes
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Preference shares
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Amount: | $45.4 million
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Securities: | Preference shares
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