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Oaktree plans $25-par series B preferred units
By James McCandless
San Antonio, Aug. 2 – Oaktree Capital Group, LLC plans to price an offering of $25-par series B preferred units, according to a 424B3 filing with the Securities and Exchange Commission.
Morgan Stanley & Co. LLC, BofA Merrill Lynch, UBS Securities LLC, Wells Fargo Securities LLC and RBC Capital Markets, LLC are the joint bookrunners.
The preferreds are redeemable after five years.
Oaktree plans to use the proceeds for general corporate purposes, including to fund investments.
The company plans to list the preferreds on the New York Stock Exchange under the symbol “OAKPrB.”
Oaktree is a Los Angeles-based investment management company.
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