Chicago, May 23 – Oak Hill Advisors LP sold $400 million in a collateralized loan obligation being issued by OHA Credit Funding 15 Ltd./OHA Credit Funding 15 LLC, according to a presale report.
The notes will mature on April 20, 2035.
The CLO consists of $202 million of class A senior secured floating-rate notes at SOFR plus 183 basis points, $50 million of class A-L senior secured floating-rate loans at SOFR plus 183 bps, $35 million of class B-1 senior secured floating-rate notes at SOFR plus 250 bps, $15 million of class B-2 5.66% senior secured fixed-rate notes, $26 million of class C senior secured deferrable floating-rate notes at SOFR plus 310 bps, $23 million of class D senior secured deferrable floating-rate notes at SOFR plus 500 bps, $13 million of class E senior secured deferrable floating-rate notes at SOFR plus 800 bps and $36 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2025.
BNP Paribas Securities Corp. was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 15 Ltd./OHA Credit Funding 15 LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $400 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | April 20, 2025
|
| Settlement date: | May 24
|
|
|
| Class A notes
|
| Amount: | $202 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 183 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-L loans
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| Amount: | $50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 183 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $35 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.66%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 500 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 800 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36 million
|
| Securities: | Subordinated notes
|
|
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