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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.
In its deal, 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.
Meanwhile, 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.
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