Oaktree Capital places $100 million notes; Ramco-Gershenson to issue $75 million of notes

By Lisa Kerner

Charlotte, N.C., July 12 – Oaktree Capital Group, LLC placed $100 million of 3.69% senior notes due 2031 on Tuesday, according to an 8-K filed with the Securities and Exchange Commission.

On April 13, the company announced it had received commitments from some accredited investors to purchase the notes.

Proceeds will be used to pay down a portion of the company’s $250 million term loan due March 31, 2021.

The notes were issued by indirect subsidiary Oaktree Capital Management, LP and guaranteed by indirect subsidiaries Oaktree Capital I, LP, Oaktree Capital II, LP and Oaktree AIF Investments, LP.

Oaktree Capital Group is a Los Angeles-based asset management firm.

Ramco-Gershenson Properties Trust agreed on Friday to issue $75 million of 3.64% 12-year senior notes in a private placement with two institutional investors.

The notes priced with a spread of 227 basis points above the 10-year Treasury yield.

Closing is expected to occur on Nov. 30.

Proceeds, along with proceeds from planned asset sales, are expected to be used to pay off all maturing debt through 2017 and for general corporate purposes.

Farmington Hills, Mich.-based Ramco-Gershenson is a self-administered, publicly traded real estate investment trust.

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