By Cristal Cody
Tupelo, Miss., July 2 – Onex Credit Partners, LLC priced about $510 million of notes in 10 tranches in the OCP CLO 2019-17 collateralized loan obligation offering, according to a market source and a news release from parent company Onex Corp. on Tuesday.
Natixis Securities Americas LLC was the placement agent.
Final pricing details were not immediately available.
Onex Credit Partners will manage the CLO, which has a two-year non-call period and a five-year reinvestment period.
The offering included fixed-rate, floating-rate and subordinated notes due July 20, 2032.
The deal is backed primarily by broadly syndicated leveraged loans.
Onex Credit Partners has priced two dollar-denominated CLOs and one euro-denominated deal year to date.
OCP CLO 2019-17 is the company’s 17th U.S. CLO offering.
The private equity firm is based in Toronto.
| Issuer: | OCP CLO 2019-17 Ltd./OCP CLO 2019-17
|
| Amount: | $510 million
|
| Maturity: | July 20, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Onex Credit Partners, LLC
|
| Call feature: | Two years
|
| Pricing date: | June 28
|
| Settlement date: | July 18
|
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