Chicago, May 15 – Onex Credit Partners, LLC sold $398.2 million in a collateralized loan obligation being issued by OSD CLO 2023-27, Ltd., according to a press release.
The notes will mature on April 16, 2035.
The CLO consists of $12 million of class A floating-rate notes at SOFR plus 160 basis points, $260 million of class AL floating-rate loans at SOFR plus 160 bps, $48 million of class B floating-rate notes at SOFR plus 240 bps, $19 million of class C floating-rate notes at SOFR plus 300 bps, $17.4 million of class D floating-rate notes at SOFR plus 484 bps, $12.6 million of class E floating-rate notes at SOFR plus 825 bps and $29.2 million of subordinated notes.
Onex Credit Partners, LLC will manage the collateral through the end of the two-year reinvestment period.
Collateral for the notes consists of senior secured loans.
Onex is a Toronto-based private equity firm.
| Issuer: | OSD CLO 2023-27, Ltd.
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| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
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| Amount: | $398.2 million
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| Maturity: | April 16, 2035
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| Structure: | Cash flow CLO
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| Manager: | Onex Credit Partners, LLC
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| Settlement date: | April 26
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| Class A notes
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| Amount: | $12 million
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| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 160 bps
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| Rating: | Fitch: AAA
|
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|
| Class AL loans
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| Amount: | $260 million
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| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 160 bps
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| Rating: | Fitch: AAA
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|
|
| Class B notes
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| Amount: | $48 million
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| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 240 bps
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| Rating: | Fitch: AA
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|
| Class C notes
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| Amount: | $19 million
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| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 300 bps
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| Rating: | Fitch: A
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| Class D notes
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| Amount: | $17.4 million
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| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 484 bps
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| Rating: | Fitch: BBB+
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| Class E notes
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| Amount: | $12.6 million
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| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 825 bps
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| Rating: | Fitch: BB-
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|
|
| Subordinated notes
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| Amount: | $29.2 million
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| Securities: | Subordinated notes
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