Chicago, March 7 – Oak Hill Advisors LP sold $450 million in a collateralized loan obligation issued by OHA Credit Funding 17 Ltd./OHA Credit Funding 17 LLC, according to a presale report.
The notes will mature on April 20, 2037.
The CLO consists of $288 million of class A senior secured floating-rate notes at SOFR plus 148 basis points, $34 million of class B-1 senior secured floating-rate notes at SOFR plus 190 bps, $20 million of class B-2 5.61% senior secured fixed-rate notes, $27 million of class C senior secured deferrable floating-rate notes at SOFR plus 230 bps, $24.75 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 330 bps, $6.75 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 425 bps, $13.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 590 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, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Feb. 28, 2026.
BNP Paribas Securities Corp. was the placement agent.
The investment firm is based in New York City.
| Issuer: | OHA Credit Funding 17 Ltd./OHA Credit Funding 17 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $450 million
|
| Maturity: | April 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Oak Hill Advisors LP
|
| Call feature: | Feb. 28, 2026
|
| Pricing date: | Feb. 28
|
| Settlement date: | Feb. 29
|
|
|
| Class A notes
|
| Amount: | $288 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 148 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.61%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $24.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $6.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 590 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36 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.
