Oak Hill Advisors refinances two 2014 CLOs; Investcorp refinances 3i’s former European CLO

By Cristal Cody

Tupelo, Miss., March 17 – Oak Hill Advisors LP came to the CLO market to refinance two vintage 2014 CLOs in March.

Oak Hill Advisors refinanced $644 million of floating-rate notes in the OHA Credit Partners X, Ltd./OHA Credit Partners X, Inc. deal.

The firm also priced $613.8 million of fixed-and floating-rate notes in a refinancing of the OHA Loan Funding 2014-1, Ltd./OHA Loan Funding 2014-1 Inc. transaction.

In the European CLO market, Investcorp Credit Management EU Ltd. refinanced €321.7 million of CLO notes in its CLO first transaction since acquiring 3i Debt Management Investments Ltd. in late 2016.

U.S. CLO managers have refinanced about $32 billion of vintage CLOs in 2017, while about €4 billion of euro-denominated CLOs have been refinanced year to date.

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