Chicago, Dec. 28 – Onex Credit Partners LLC sold $406 million of notes in a collateralized loan obligation being issued by OCP CLO 2023-30 Ltd./OCP CLO 2023-30 LLC, according to a presale report.
The notes will mature on Jan. 24, 2037.
The CLO consists of $256 million of class A-1 senior secured floating-rate notes at SOFR plus 175 basis points, $8 million of class A-2 senior secured floating-rate notes at SOFR plus 195 bps, $40 million of class B senior secured floating-rate notes at SOFR plus 225 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 265 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 450 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 709 bps and $40 million of subordinated notes.
Onex Credit Partners LLC will manage the collateral through the end of the reinvestment period on Jan. 24, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 24, 2026.
Mizuho Securities USA LLC was the placement agent.
Onex is a Toronto-based private equity firm.
Issuer: | OCP CLO 2023-30 Ltd./OCP CLO 2023-30 LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $406 million
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Maturity: | Jan. 24, 2037
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Structure: | Cash flow CLO
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Placement agent: | Mizuho Securities USA LLC
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Manager: | Onex Credit Partners LLC
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Call feature: | Jan. 24, 2026
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Pricing date: | Dec. 19
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Settlement date: | Jan. 24
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Class A-1 notes
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Amount: | $256 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: | S&P: AAA
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Class A-2 notes
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Amount: | $8 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 195 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $40 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 225 bps
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Rating: | S&P: AA
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Class C 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 265 bps
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Rating: | S&P: A
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Class D 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 450 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $14 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 709 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $40 million
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Securities: | Subordinated notes
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