Onex Credit Partners prices 13th CLO at $610 mln

Onex Credit Partners LLC, the credit investment arm of Canadian private equity firm Onex Corp, has priced its 13th collateralized loan obligation (CLO) offering at about US$610 million. The transaction will be issued by a newly formed special purpose vehicle, backed by a portfolio of syndicated leveraged loans. Onex has committed to buy and hold a majority of the equity for the life of the deal. Onex last month launched its its fifth flagship buyout fund at a US$6.5 billion target.

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