Chicago, Feb. 25 – Oak Hill Advisors LP refinanced and extended for $549.05 million the collateralized loan obligation issued by OHA Credit Funding 7 Ltd./OHA Credit Funding 7 LLC, according to a pre-sale report.
The notes will mature on Feb. 24, 2037. The original transaction dates to November 2020.
The refinanced CLO consists of $1.25 million of class X senior secured floating-rate notes at SOFR plus 70 basis points, $333.5 million of class A-R senior secured floating-rate notes at SOFR plus 130 bps, $82.5 million of class B-R senior secured floating-rate notes at SOFR plus 180 bps, $33 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 205 bps, $33 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 310 bps, $22 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 625 bps and $43.8 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on April 19, 2027.
The collateral will consist of syndicated speculative-grade senior secured term loans.
The notes can be called starting Feb. 25, 2024.
Citigroup Global Markets Inc. was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 7 Ltd./OHA Credit Funding 7 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $549.05 million
|
| Maturity: | Feb. 24, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | Feb. 25, 2024
|
| Settlement date: | Feb. 25
|
|
|
| Class X notes
|
| Amount: | $1.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 70 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-R notes
|
| Amount: | $333.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 130 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $82.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $33 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $33 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 625 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $43.8 million
|
| Securities: | Subordinated notes
|
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