Onex, MidCap price new CLOs; Apollo brings second reprint; AXA Managers refinances

By Cristal Cody

Tupelo, Miss., July 2 – Onex Credit Partners, LLC priced about $510 million of notes in 10 tranches in the manager’s second dollar-denominated CLO offering of the year.

In other supply, MidCap Financial Services Capital Management LLC priced $509.1 million of notes in the middle-market CLO Woodmont 2019-6 LP/Woodmont 2019-6 LLC on Wednesday, a source said. Final pricing details were not immediately available.

In the refinancing space, Apollo Credit Management (CLO) LLC priced a $641 million second refinancing of a vintage 2012 CLO.

Also, AXA Investment Managers, Inc. refinanced $414 million of notes from a vintage 2016 CLO deal.

In its deal, Onex Credit Partners priced about $510 million of notes in the OCP CLO 2019-17 CLO offering, according to a market source and a news release from parent company Onex Corp. on Tuesday.

Natixis Securities Americas LLC was the placement agent.

Final pricing details were not immediately available.

Onex Credit Partners will manage the CLO, which has a two-year non-call period and a five-year reinvestment period.

The offering included fixed-rate, floating-rate and subordinated notes due July 20, 2032.

The deal is backed primarily by broadly syndicated leveraged loans.

Onex Credit Partners has priced two dollar-denominated CLOs and one euro-denominated deal year to date.

The private equity firm is based in Toronto.

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