Onex Credit Partners prices $514 million notes in OCP CLO 2014-7 deal

By Cristal Cody

Tupelo, Miss., Nov. 3 – Onex Credit Partners, LLC sold $514 million of notes in a private placement offering in the firm’s seventh collateralized loan obligation deal, according to a statement on Monday from parent company Onex Corp.

The OCP CLO 2014-7 Ltd./OCP CLO 2014-7 Corp. transaction priced via Citigroup Global Markets Inc., according to a market source.

Onex said it purchased a majority of the equity in the transaction.

The firm said any future CLO offerings will be made in similar private placement transactions.

After the deal closes, Onex Credit Partners will manage more than $5 billion in senior secured loans and high-yield bonds.

Final pricing details were not available by press time.

Onex Credit Partners previously priced $1,001,750,000 of notes in the OCP CLO 2014-6 Ltd./OCP CLO 2014-6 Corp. deal on May 22. The credit investing arm of Toronto-based Onex Corp. brought the $420 million OCP CLO 2014-5 Ltd./OCP CLO 2014-5 Corp. offering on March 4, 2014.

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