Chicago, Feb. 23 – Onex Credit Partners, LLC and Onex Credit Partners Europe LLP sold €405.5 million in a collateralized loan obligation being issued by OCP EURO CLO 2022-5 DAC, according to multiple notices.
The notes will mature on April 20, 2035.
The CLO consists of €248 million of class A senior secured floating-rate notes at Euribor plus 92 basis points, €32.5 million of class B-1 senior secured floating-rate notes at Euribor plus 175 bps, €7.5 million of class B-2 2.2% senior secured fixed-rate notes, €28 million of class C senior secured deferrable floating-rate notes at Euribor plus 235 bps, €26 million of class D senior secured deferrable floating-rate notes at Euribor plus 335 bps, €19.3 million of class E senior secured deferrable floating-rate notes at Euribor plus 647 bps, €11.7 million of class F senior secured deferrable floating-rate notes at Euribor plus 889 bps and €32.5 million of subordinated notes.
Onex Credit Partners, LLC and Onex Credit Partners Europe LLP will manage the collateral through the end of the four-year reinvestment period.
Backing the notes as collateral are broadly syndicated senior secured term loans and bonds.
Merrill Lynch International was the placement agent.
The private equity firm is based in Toronto.
| Issuer: | OCP EURO CLO 2022-5 DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €405.5 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | Onex Credit Partners, LLC, Onex Credit Partners Europe LLP
|
| Settlement date: | March 9
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 92 bps
|
| Rating: | Moody's: Aa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €32.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €7.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.2%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 235 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 335 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €19.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 647 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €11.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 889 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €32.5 million
|
| Securities: | Subordinated notes
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
