Chicago, July 19 – Oak Hill Advisors LP is refinancing and extending for $567.23 million the collateralized loan obligation issued by OHA Credit Funding 12 Ltd./OHA Credit Funding 12 LLC , according to a presale report.
The notes will mature on July 20, 2035.
The refinanced CLO consists of $1.9 million of class X senior secured floating-rate notes at SOFR plus 145 basis points, $353.625 million of class A-1-R senior secured floating-rate notes at SOFR plus 175 bps, $15 million of class A-2-R senior secured floating-rate notes at SOFR plus 220 bps, $65.5 million of class B-R senior secured floating-rate notes at SOFR plus 255 bps, $37.375 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 300 bps, $33.6 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 500 bps, $18.725 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 800 bps and $41.5 million of subordinated notes.
The original CLO consisted of $320 million of class A senior secured floating-rate notes at SOFR plus 210 basis points, $45.8 million of class B senior secured floating-rate notes at SOFR plus 275 bps, $31.6 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 345 bps, $34 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 425 bps, $18.3 million of class E junior secured deferrable floating-rate notes at SOFR plus 776 bps, $1 million of class F junior secured deferrable floating-rate notes at SOFR plus 776 bps and $41.5 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on July 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting July 20, 2025.
Citigroup Global Markets Inc. is the placement agent.
| Issuer: | OHA Credit Funding 12 Ltd./OHA Credit Funding 12 LLC
|
| Issue: | Floating-rate notes and subordinated notes
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| Amount: | $567.225 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
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| Manager: | Oak Hill Advisors LP
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| Call feature: | July 20, 2025
|
| Settlement date: | July 20
|
|
|
| Class X notes
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| Amount: | $1.9 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 145 bps
|
|
|
| Class A-1-R notes
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| Amount: | $353.625 million
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| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
|
|
| Class A-2-R notes
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| Amount: | $15 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 220 bps
|
|
|
| Class B-R notes
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| Amount: | $65.5 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 255 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
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| Amount: | $37.375 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
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| Amount: | $33.6 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 500 bps
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| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
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| Amount: | $18.725 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 800 bps
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| Rating: | S&P: BB-
|
|
|
| Subordinated notes
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| Amount: | $41.5 million
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| Securities: | Subordinated notes
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