Chicago, Jan. 18 – Onex Credit Partners Europe LLP sold €339 million in a collateralized loan obligation being issued by OCP Euro CLO 2022-6 DAC, according to a new issue report.
The notes will mature on Jan. 20, 2033.
The CLO consists of €238 million of class A senior secured floating-rate notes at Euribor plus 188 basis points, €23.25 million of class B senior secured floating-rate notes at Euribor plus 359 bps, €17 million of class C senior secured deferrable floating-rate notes at Euribor plus 426 bps, €19.25 million of class D senior secured deferrable floating-rate notes at Euribor plus 606 bps, €17.5 million of class E senior secured deferrable floating-rate notes at Euribor plus 687 bps and €24 million of subordinated notes.
Onex Credit Partners Europe LLP will manage the collateral through the end of the reinvestment period on Jan. 10, 2024. The reinvestment period is limited to the non-call period and only 5% of the target par amount may be reinvested. The portfolio is nearly static.
Collateral for the notes consists of senior secured loans and bonds.
The notes can be called starting Jan. 10, 2024.
Citigroup Global Markets Ltd. and NatWest Markets NV, London Branch were the placement agents.
The private equity firm is based in Toronto.
| Issuer: | OCP Euro CLO 2022-6 DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €339 million
|
| Maturity: | Jan. 20, 2033
|
| Structure: | Cash flow CLO
|
| Placement agents: | Citigroup Global Markets Ltd. and NatWest Markets NV, London Branch
|
| Manager: | Onex Credit Partners Europe LLP
|
| Call feature: | Jan. 10, 2024
|
| Settlement date: | Jan. 10
|
|
|
| Class A notes
|
| Amount: | €238 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 188 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €23.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 359 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €17 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 426 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €19.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 606 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | €17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 687 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | €24 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.
