Chicago, Feb. 7 – Oak Hill Advisors LP is refinancing and extending for $630.4 million the collateralized loan obligation issued by OHA Credit Partners XV Ltd./OHA Credit Partners XV LLC, according to a presale report.
The notes will mature on April 20, 2037.
The refinanced CLO consists of $367.5 million of class A-1-R senior secured floating-rate notes at SOFR plus 150 basis points, $16.5 million of class A-2-R senior secured floating-rate notes at SOFR plus 180 bps, $52 million of class B-1-R senior secured floating-rate notes at SOFR plus 205 bps, $20 million of class B-2-R 6.15% senior secured fixed-rate notes, $36 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 245 bps, $36 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 385 bps, $24 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 675 bps and $78.4 million of subordinated notes.
Oak Hill Advisors LP will manage the collateral through the end of the reinvestment period on April 20, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2026.
BofA Securities Inc. was the placement agent.
Oak Hill is a New York City-based investment firm.
| Issuer: | OHA Credit Partners XV Ltd./OHA Credit Partners XV LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $630.4 million
|
| Maturity: | April 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | April 20, 2026
|
| Pricing date: | Feb. 5
|
| Settlement date: | March 28, 2024
|
|
|
| Class A-1-R notes
|
| Amount: | $367.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $16.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1-R notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2-R notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.15%
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 385 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 675 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $78.4 million
|
| Securities: | Subordinated notes
|
|
|
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