Chicago, April 19 – Oak Hill Advisors LP sold $451.45 million of notes in a collateralized loan obligation being issued by OHA Credit Funding 18 Ltd./OHA Credit Funding 18 LLC, according to a presale report.
The notes will mature on April 20, 2037.
The CLO consists of $279 million of class A-1 senior secured floating-rate notes at SOFR plus 150 basis points, $9 million of class A-2 senior secured floating-rate notes at SOFR plus 165 bps, $39 million of class B-1 senior secured floating-rate notes at SOFR plus 195 bps, $15 million of class B-2 5.68% senior secured fixed-rate notes, $27 million of class C senior secured deferrable floating-rate notes at SOFR plus 245 bps, $24.75 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 345 bps, $6.75 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 475 bps, $13.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 640 bps and $37.45 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 20, 2026.
Morgan Stanley & Co. LLC was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 18 Ltd./OHA Credit Funding 18 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $451.45 million
|
| Maturity: | April 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | April 20, 2026
|
| Pricing date: | April 11
|
| Settlement date: | April 12
|
|
|
| Class A-1 notes
|
| Amount: | $279 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 165 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $39 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.68%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $24.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 345 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $6.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 475 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 640 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $37.45 million
|
| Securities: | Subordinated notes
|
|
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