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OCP Euro CLO 2023-8 DAC: 18 November 2023

The assets securing the Notes will consist primarily of a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Onex Credit Partners LLC.

Onex, founded in 1984, is an investor and asset manager that invests capital on behalf of its shareholders and clients across the globe. Onex’s two primary businesses are Private Equity and Credit. In total, as of 30 September 2023, Onex has $49.7bln in assets under management, of which $8.1bln is Onex' own investing capital.

Eligibility criteria (includes): it is a Secured Senior Obligation, a Corporate Rescue Loan, an Unsecured Senior Obligation, a Mezzanine Obligation, a Second Lien Loan or a High Yield Bond; it is not a Defaulted Obligation or a Credit Risk Obligation; it is not a lease; it is not a Structured Finance Security or a Synthetic Security; it is not a Zero Coupon Security; other than in the case of a Corporate Rescue Loan, an obligation that is Uptier Priming Debt or a Received Obligation, it has a Fitch Rating of not lower than “CCC-” and an S&P Rating of not lower than “CCC- ”; it is an obligation of an Obligor or Obligors Domiciled in a Non-Emerging Market Country (as determined by the Portfolio Manager acting on behalf of the Issuer); it is not a Project Finance Loan; it has a minimum purchase price of 60% of the Principal Balance of such Collateral Obligation.

The Issuer anticipates that by the Issue Date it, or the Portfolio Manager on its behalf, will have purchased or committed to purchase Collateral Obligations the Aggregate Principal Balance of which is equal to at least €350mln, which is 100% of the Target Par Amount.

The Notes other than the Retention Notes and any other Notes being sold directly by the Issuer to the Originator are being offered by the Issuer through BNP Paribas in its capacity as placement agent of the offering.

EU Risk Retention: The Originator (OMI PH USD CP LLC) will undertake to acquire and hold on an ongoing basis, for so long as any Debt is outstanding, not less than 5% of the nominal value of each Class of Debt.

US Risk Retention: The Originator intends to satisfy the risk retention requirements under the US Risk Retention Rules by acquiring and holding an “eligible vertical interest” in an amount at least equal to the amount required.