Chicago, March 11 – Oak Hill Advisors LP refinanced for $506 million the collateralized loan obligation issued by OHA Credit Funding 1 Ltd./OHA Credit Funding 1 LLC, according to a presale report.
The notes will now mature on April 20, 2036.
The refinanced CLO consists of $5 million of class X-R senior secured floating-rate notes at SOFR plus 100 basis points, $306 million of class A-1-R senior secured floating-rate notes at SOFR plus 150 bps, $34 million of class A-2-R senior secured floating-rate notes at SOFR plus 180 bps, $20 million of class B-1-R senior secured floating-rate notes at SOFR plus 210 bps, $20 million of class B-2-R 6.05% senior secured fixed-rate notes, $30 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 250 bps, $30 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 375 bps, $20 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 709 bps and $41 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on April 20, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 10, 2026.
Barclays Capital Inc. was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 1 Ltd./OHA Credit Funding 1 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $506 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays Capital Inc.
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | April 10, 2026
|
| Pricing date: | March 1
|
| Settlement date: | April 10
|
|
|
| Class X-R notes
|
| Amount: | $5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 100 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1-R notes
|
| Amount: | $306 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
|
|
| Class B-1-R notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2-R notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.05%
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 709 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41 million
|
| Securities: | Subordinated notes
|
|
|
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