Onex Credit Partners LLC completed its latest collateralized loan obligation

By Marc Castro

Oct 29, 2013 01:13 PM EDT

Onex Corporation through a statement announced Onex Credit Partners LLC had completed the offer of its fourth collateralized loan obligation through a private placement transaction. This raised USD514 million, where USD40 million came from Onex. 

A collateralized loan obligation is a structured vehicle which leverages a diversified portfolio of loan and bonds that was funded through the release of long term debt through a series of weighted tranches. 

For its part, Onex Credit focuses exclusively on non-investment grade credit investing, which included his offering. Currently, Onex manages about USD3.3 billion in senior secured loand as well as high yield bonds through a variety of financial strategies.

Onex currently operates offices in London, New York and Toronto, It is one of the olders and most successful private equity terms, as it acquires and builds business of high quality working with talented management teams. The company oversees nearly USD15 billion worth of assets under management, with USD5 billion from Onex Capital in private equity, credit securities and real estate investments. 

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