Onex Credit Partners prices 12th CLO at $560 mln

Onex Credit Partners LLC, the credit investment arm of Canadian private equity firm Onex Corp, has priced its 12th collateralized loan obligation (CLO) offering at about US$560 million. The transaction will be issued by a newly formed special purpose vehicle backed by a diversified portfolio of broadly syndicated leveraged loans. Onex has committed to buy and hold a majority of the equity for the life of the deal. With the close of the offering, the credit group will manage about US$7.5 billion.

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