Chicago, Aug. 25 – Oak Hill Advisors LP sold $400 million in a collateralized loan obligation being issued by OHA Credit Funding 13 Ltd./OHA Credit Funding 13 LLC, according to a new issue report.
The notes will mature on July 20, 2035.
The CLO consists of $242 million of class A senior secured floating-rate notes at SOFR plus 225 basis points, $50 million of class B senior secured floating-rate notes at SOFR plus 300 bps, $20 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 400 bps, $10.5 million of class C-2 senior secured deferrable floating-rate notes at SOFR plus 425 bps, $23.35 million of class D senior secured deferrable floating-rate notes at SOFR plus 519 bps, $13 million of class E senior secured deferrable floating-rate notes at SOFR plus 855 bps and $41.15 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on July 20, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting July 20, 2024.
Citigroup Global Markets Inc. was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 13 Ltd./OHA Credit Funding 13 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $400 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | July 20, 2024
|
| Settlement date: | Aug. 25
|
|
|
| Class A notes
|
| Amount: | $242 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | S&P: A+
|
|
|
| Class C-2 notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $23.35 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 519 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 855 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41.15 million
|
| Securities: | Subordinated notes
|
|
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