Onex Credit Partners LLC has priced its 16th U.S. collateralized loan obligation (CLO) for about US$505 million.
The transaction will be issued by a special purpose vehicle, backed by a diversified portfolio of broadly syndicated leveraged loans.
With the offering’s close, Onex Credit will oversee nearly US$11 billion.
Onex Credit, which invests in non-investment grade debt through CLOs, private debt funds and other credit strategies, is an affiliate of Canadian private equity firm Onex Corp.
Onex Prices U.S. CLO-16
TORONTO, Feb. 25, 2019 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX: ONEX) announced today that Onex Credit Partners, LLC (“Onex Credit”) priced its 16th U.S. collateralized loan obligation (“CLO”) for approximately $505 million. The transaction will be issued by a special purpose vehicle, backed by a diversified portfolio of broadly syndicated leveraged loans. After giving effect to the closing of this offering, Onex Credit will manage nearly $11 billion.
The securities offered in this CLO 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. This release does not constitute an offer to sell or a solicitation of an offer to buy any such securities.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $33 billion of assets under management, including $6.9 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $52 billion, generate annual revenues of $32 billion and employ approximately 218,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.
For further information:
Director, Investor Relations