Onex US CLO-21 Price
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All amounts in US dollars unless otherwise stated
TORONTO, April 27, 2021 (GLOBE NEWSWIRE) – Onex Corporation (“Onex”) (TSX: ONEX) has announced that Onex Credit Partners, LLC (“Onex Credit”) has priced its 21st United States Secured Loan Bond (“CLO”) for approximately $ 510 million. The transaction will be issued by a special purpose vehicle, backed by a diversified portfolio of largely syndicated leveraged loans. The CLO is expected to close in early June.
US CLO-21 will be managed by the Onex Credit team led by Ronnie Jaber and Karen Lau. The transaction will be backed by a diverse global group of more than ten investors, including an equity investor who has invested in multiple Onex Credit CLOs, meaning that approximately two-thirds of CLO’s capital will be taken by third-party investors. . It’s the 25 of the cabinete CLO since the launch of its CLO platform in 2012.
“We are grateful to all of our partners who have supported us in this CLO and for their interest in our growing platform. We launched the US CLO-21 with the aim of raising $ 400 million and were quickly oversubscribed in most of the capital structure, which led to a more than 25% increase in the deal to better respond at the request of investors, ”said Karen Lau, Portfolio Manager at Credit Onex.
“We are delighted that investors recognize the strong commitment and alignment of our organization, and have shown their support by investing with us,” commented Ronnie Jaber, Portfolio Manager and Head of Structured Credit at Onex Credit.
The securities offered in this CLO have not been registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or exemption from registration. under this law. This press release does not constitute an offer to sell or a solicitation of an offer to buy such securities.
About Onex Credit
Established in 2007, Onex Credit increased its assets under management from approximately $ 300 million to $ 17 billion as of December 31, 2020. With offices in New York, New Jersey, Boston and London, Onex Credit’s operations focus on high quality credit markets for private and public credit investment through negotiable, private and opportunistic strategies.
Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients around the world. Onex platforms include: Onex Partners, private equity funds focused on mid to large cap opportunities in North America and Western Europe; ONCAP, a private equity fund focused on the mid-market and small opportunities in North America; Onex Credit, which primarily manages lower quality debt securities through negotiable, private and opportunistic credit strategies; and Gluskin Sheff’s wealth management services, including its actively managed private equity and public credit funds. In total, as of December 31, 2020, Onex had approximately $ 44 billion in assets under management, of which approximately $ 6.8 billion is its own private equity. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors in the Onex platforms.
The partner companies of Onex and ONCAP have assets of $ 40 billion, generate annual revenues of $ 22 billion, and employ approximately 147,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit their website at www.onex.com. Onex security depots are also accessible at www.sedar.com.
This press release may contain, without limitation, statements regarding possible or supposed future operations, performance or results preceded by, followed by or containing words such as “believes”, “expects”, ” potential ”,“ anticipates ”,“ estimates ”,“ intends ”,“ plans ”and words with similar connotations, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information, as they involve significant and various risks and uncertainties which may cause actual operations, performance or results to differ materially from those indicated in such forward-looking statements. Except to the extent required by Canadian securities laws, Onex has no obligation to update any forward-looking statements contained herein if material facts change as a result of new information, future events or changes. other factors. These cautionary statements expressly qualify all forward-looking statements contained in this press release.
For more information:
Managing Director – Shareholder Relations and Communications
Phone: +1 416.362.7711