Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Onex Credit Partners LLC > News item |
Onex prices $505.1 million; Canyon CLO taps market; Anchorage sells $505 million deal
By Cristal Cody
Tupelo, Miss., Feb. 26 – Onex Credit Partners, LLC priced $505.1 million of notes in the manager’s first CLO offering of 2019.
The primary market has been busier in February with new issuance.
Canyon CLO Advisors LLC priced a $404.9 million CLO in its first transaction this year.
Earlier in February, Anchorage Capital Group, LLC also sold $505 million of notes in a new CLO offering.
AAA-rated CLO spreads are trending in the Libor plus 130 basis points to 140 bps range year to date, sources note.
Onex brings OCP CLO
Onex Credit Partners priced $505.1 million of notes due Jan. 20, 2032 in the OCP CLO 2019-16 Ltd./OCP CLO 2019-16 LLC transaction, according to a market source.
The CLO sold $163.93 million of the class A-1 senior secured floating-rate notes at Libor plus 140 bps, $20 million of 4.288% class A-2 senior secured fixed-rate notes and $30 million of class B senior secured floating-rate notes at Libor plus 185 bps.
Natixis Securities Americas LLC was the placement agent.
The notes are backed primarily by broadly syndicated senior secured corporate loans.
The deal is the Toronto-based private equity firm’s first CLO offering of 2019.
Canyon CLO 2019-1 prints
Canyon CLO Advisors priced $404.9 million of notes due April 15, 2032 in the Canyon Capital CLO 2019-1, Ltd. offering, according to a market source.
At the top of the capital stack, Canyon Capital CLO 2019-1 sold $256 million of class A senior secured floating-rate notes at Libor plus 137 bps and $48 million of class B senior secured floating-rate notes at Libor plus 200 bps.
BofA Merrill Lynch was the placement agent.
The transaction is collateralized primarily by first-lien senior secured loans.
Canyon CLO Advisors is a Los Angeles-based subsidiary of alternative asset manager Canyon Capital Advisors LLC.
Anchorage pre-places tranche
Anchorage Capital Group priced $505 million of notes due April 15, 2032 in the new Anchorage Capital CLO 13 Ltd./Anchorage Capital CLO 13 LLC transaction, according to market sources.
The CLO priced a $307.5 million pre-placed tranche of class A floating-rate notes at Libor plus 147 bps.
Goldman Sachs & Co. LLC was the placement agent.
The deal is backed primarily by broadly syndicated first-lien senior secured loans.
Anchorage Capital Group is a New York City-based asset manager.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.