Chicago, Feb. 4 – Oak Hill Advisors, LP sold $704 million in a collateralized loan obligation issued by OHA Credit Funding 10, Ltd., according to multiple notices.
The notes will mature on Jan. 18, 2036.
The CLO consists of $3 million of class X senior secured floating-rate notes at Libor plus 75 basis points, $164.5 million of class A senior secured floating-rate notes at Libor plus 113 bps, $0 million of class A-L senior secured floating-rate notes at Libor plus 113 bps, $280 million of class A-L loans at Libor plus 113 bps, $87.5 million of class B senior secured floating-rate notes at Libor plus 165 bps, $42 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 210 bps, $38.5 million of class D-1 mezzanine secured deferrable floating-rate notes at Libor plus 310 bps, $10.5 million of class D-2 mezzanine secured deferrable floating-rate notes at Libor plus 450 bps, $21 million of class E junior secured deferrable floating-rate notes at Libor plus 625 bps and $57 million of subordinated notes.
Oak Hill Advisors, LP will manage the collateral through the end of the 5.1-year reinvestment period.
The notes are backed by first-lien senior secured leveraged loans.
BofA Securities, Inc. was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 10, Ltd.
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $704 million
|
| Maturity: | Jan. 18, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Oak Hill Advisors, LP
|
| Settlement date: | Dec. 17
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
|
| Amount: | $164.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-L notes
|
| Amount: | $0 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-L loans
|
| Amount: | $280 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 113 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $87.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $42 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | $38.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $10.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 450 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $21 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 625 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $57 million
|
| Securities: | Subordinated notes
|
|
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