Chicago, May 27 – Oak Hill Advisors, LP sold $630.3 million in a collateralized loan obligation being issued by OHA Credit Funding 11, Ltd., according to multiple press releases.
The notes will mature on July 19, 2033.
The CLO consists of $400 million of class A senior secured floating-rate notes at SOFR plus 144 basis points, $75 million of class B senior secured floating-rate notes at SOFR plus 200 bps, $37.5 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 230 bps, $37.5 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 360 bps, $25 million of class E junior secured deferrable floating-rate notes at SOFR plus 725 bps, $1.3 million of class F junior secured deferrable floating-rate notes at SOFR plus 800 bps and $54 million of subordinated notes.
Oak Hill Advisors, LP will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Barclays was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 11, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $630.3 million
|
| Maturity: | July 19, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Oak Hill Advisors, LP
|
| Settlement date: | May 25
|
|
|
| Class A notes
|
| Amount: | $400 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 144 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $37.5 million
|
| Securities: | Mezzanine Secured Deferrable floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $37.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $25 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 725 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
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| Amount: | $1.3 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 800 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $54 million
|
| Securities: | Subordinated notes
|
|
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