Onex Credit Partners prices 16th CLO at $505 mln

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.

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