Onex Credit to manage over $6.5 bln with close of tenth CLO

Onex Credit Partners LLC, the credit investment arm of Canadian private equity firm Onex Corp, has priced its tenth collateralized loan obligation (CLO) offering at about US$510 million. The transaction will be issued by a newly formed special purpose vehicle, backed by a diversified portfolio of syndicated leveraged loans. Onex has committed to buy and hold most of the equity for the life of the transaction. Upon the close of the offering, Onex Credit will manage more than US$6.5 billion, up from US$5 billion at the end of 2014.

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