Onex Credit Partners has priced its fourth European collateralized loan obligation at about 250 million euros. The CLO is expected to close on June 24, 2020. This is the firm’s 23rd CLO since launching its CLO platform in 2012.
Toronto, June 18, 2020 – Onex Corporation (“Onex”) (TSX: ONEX) announced that Onex Credit Partners, LLC (“Onex Credit”) priced its fourth European collateralized loan obligation (“CLO”) for approximately €250 million. The transaction will be issued by a special purpose vehicle, backed by a diversified portfolio of broadly syndicated leveraged loans. The CLO is expected to close on June 24.
The transaction will be supported by a diverse, global group of new and existing investors. This is the firm’s 23rd CLO since launching its CLO platform in 2012. Onex previously announced its 18th and 19th U.S. CLOs in May and June of this year.
“This European CLO is indicative of our continued global growth and builds on the momentum of our two recent U.S. transactions,” said Paul Travers, portfolio manager and head of Onex Credit’s CLO business.
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.
About Onex Credit
Established in 2007, Onex Credit has grown its assets under management from approximately $300 million to over $12 billion. With offices in New York, New Jersey and London, Onex Credit’s business is focused on non-investment grade credit markets including leveraged loan, CLO, direct lending, high yield, and opportunistic investing strategies.
Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, private debt and other credit strategies; and Gluskin Sheff’s actively managed public equity and public credit funds. In total, Onex has approximately $32.9 billion of assets under management, of which approximately $6.0 billion is its own shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
The Onex Partners and ONCAP businesses have assets of $45 billion, generate annual revenues of $27 billion and employ approximately 170,000 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.