Chicago, March 2 – Oak Hill Advisors LP sold $500 million in a collateralized loan obligation being issued by OHA Credit Funding 14 Ltd./OHA Credit Funding 14 LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $320 million of class A senior secured floating-rate notes at SOFR plus 175 basis points, $56.25 million of class B senior secured floating-rate notes at SOFR plus 225 bps, $32.75 million of class C senior secured deferrable floating-rate notes at SOFR plus 310 bps, $28.5 million of class D senior secured deferrable floating-rate notes at SOFR plus 475 bps, $17.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 775 bps and $45 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting March 14, 2025.
BNP Paribas Securities Corp. was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 14 Ltd./OHA Credit Funding 14 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $500 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | March 14, 2025
|
| Settlement date: | March 14
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
|
|
| Class B notes
|
| Amount: | $56.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $28.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 475 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 775 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $45 million
|
| Securities: | Subordinated notes
|
|
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