Onex Credit Partners LLC, the credit investment platform of Canadian private equity firm Onex Corp (TSX: OCX), has completed its fifth collateralized loan obligation (CLO) offering. The offering reflected US$420 million of securities in a private placement transaction that included US$43 million from Onex. In addition to this offering, Onex Credit currently manages over US$3.7 billion in senior secured loans and high yield bonds in a variety of strategies, up from US$3.3 billion in late 2013.
Onex Credit Partners Completes Fifth CLO Offering
Toronto, March 20, 2014 – Onex Corporation (“Onex”) (TSX: OCX) announced today that Onex Credit Partners, LLC completed its fifth collateralized loan obligation (“CLO”) offering $420 million of securities in a private placement transaction that included $43 million from Onex. A CLO is a leveraged structured vehicle that holds a diversified portfolio of loans and bonds funded through the issuance of long-term debt in a series of rated tranches.
Onex Credit is focused exclusively on non-investment grade credit investing. Including this offering, Onex Credit manages more than $3.7 billion in senior secured loans and high yield bonds in a variety of strategies.
With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $19 billion of assets under management, including $6 billion of Onex capital, in private equity, credit securities and real estate. Onex invests its capital directly and as the largest limited partner in each of its Funds.
Onex’ businesses have assets of $44 billion, generate annual revenues of $33 billion and employ approximately 232,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company’s security filings can also be accessed at www.sedar.com.
This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
The securities sold in the fifth CLO offering have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration under that Act. Any future CLO offerings will be made in similar private placement transactions subject to the same restrictions.
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Vice President, Investor Relations
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