Chicago, Sept. 7 – Oak Hill Advisors LP refinanced and extended for $462.375 million the collateralized loan obligation issued by OHA Credit Partners XIII Ltd./OHA Credit Partners XIII LLC, according to a pre-sale report.
The refinanced notes will mature on Oct. 21, 2034.
The CLO now consists of $2 million of class X-R senior secured floating-rate notes at Libor plus 85 basis points, $288 million of class A-R senior secured floating-rate notes at Libor plus 117 bps, $51.75 million of class B-R senior secured floating-rate notes at Libor plus 170 bps, $29.25 million of class C-R senior secured deferrable floating-rate notes at Libor plus 210 bps, $27 million of class D-R senior secured deferrable floating-rate notes at Libor plus 320 bps, $16.875 million of class E-R senior secured deferrable floating-rate notes at Libor plus 625 bps and $47.5 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on Oct. 21, 20216.
The notes can be called starting Aug. 19, 2023.
GreensLedge Capital Markets LLC was the placement agent.
Oak Hill is a New York City-based investment firm.
| Issuer: | OHA Credit Partners XIII Ltd./OHA Credit Partners XIII LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $462.375 million
|
| Maturity: | Oct. 21, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | GreensLedge Capital Markets LLC
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | Aug. 19, 2023
|
| Settlement date: | Aug. 19
|
|
|
| Class X-R notes
|
| Amount: | $2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 85 bps
|
|
|
| Class A-R notes
|
| Amount: | $288 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
|
|
| Class B-R notes
|
| Amount: | $51.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $29.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 320 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $16.875 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 625 bps
|
|
|
| Subordinated notes
|
| Amount: | $47.5 million
|
| Securities: | Subordinated notes
|
|
|
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