Chicago, March 14 – Onex Credit Partners, LLC refinanced for $432.5 million the collateralized loan obligation issued by OCP CLO 2015-9 Ltd./OCP CLO 2015-9 Corp., according to multiple press releases.
The notes will mature on Jan. 15, 2033.
The CLO consists of $4 million of class X senior secured floating-rate notes at SOFR plus 75 basis points, $248 million of class A-1-R2 senior secured floating-rate notes at SOFR plus 125 bps, $12 million of class A-2-R2 senior secured floating-rate notes at SOFR plus 155 bps, $44 million of class B-R2 senior secured floating-rate notes at SOFR plus 175 bps, $24 million of class C-R2 senior secured deferrable floating-rate notes at SOFR plus 215 bps, $24 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 315 bps, $16 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 680 bps, $15.1 million of subordinated notes and $45.4 million of preference shares.
Onex Credit Partners, LLC will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of syndicated senior secured corporate loans.
Citibank, NA was the placement agent.
Onex is a Toronto-based private equity firm.
| Issuer: | OCP CLO 2015-9 Ltd./OCP CLO 2015-9 Corp.
|
| Issue: | Floating-rate notes, subordinated notes and preference shares
|
| Amount: | $432.5 million
|
| Maturity: | Jan. 15, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citibank, NA
|
| Manager: | Onex Credit Partners, LLC
|
| Settlement date: | March 9
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 75 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-1-R2 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 125 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2-R2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 155 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-R2 notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C-R2 notes
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| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 680 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
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| Amount: | $15.1 million
|
| Securities: | Subordinated notes
|
|
|
| Preference shares
|
| Amount: | $45.4 million
|
| Securities: | Preference shares
|
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