OCP Euro CLO 2017-2 (Refinance): 20 September 2024
The assets securing the Debt will consist primarily of a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Onex Credit Partners LLC.
On 14 December 2017 (the Original Issue Date) the Issuer issued Class A Senior Secured Floating Rate Notes due 2032, Class B Senior Secured Floating Rate Notes due 2032, Class C Senior Secured Deferrable Floating Rate Notes due 2032, Class D Senior Secured Deferrable Floating Rate Notes due 2032, Class E Senior Secured Deferrable Floating Rate Notes due 2032, Class F Senior Secured Deferrable Floating Rate Notes due 2032 and Subordinated Notes due 2032.
On or about 12 September 2024 (the re-issue Date) the Issuer will refinance the Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2037, Class B-R Senior Secured Floating Rate Notes due 2037, Class C-R Senior Secured Deferrable Floating Rate Notes due 2037, Class D-R Senior Secured Deferrable Floating Rate Notes due 2037, Class E-R Senior Secured Deferrable Floating Rate Notes due 2037, Class F-R Senior Secured Deferrable Floating Rate Notes due 2037 and Additional Subordinated Notes due 2037. The original and additional Subordinated Notes shall form one single class of Subordinated Notes.
In addition, on the Issue Date the Issuer will enter into a Loan Agreement pursuant to which the Class A Lender will make available to the Issuer a Senior Secured Floating Rate Loan Facility with a maximum commitment amount of €100mln. The Class A Loan Commitment Amount may be drawn on the Issue Date in whole or in part but shall be fully drawn by the last Business Day prior to the Class A Loan Commitment Termination Date.
Risk Retention: On the Issue Date, OMI PH USD CP LLC in its capacity as Originator will enter into a retention undertaking letter confirming that it will continue to hold on the Issue Date certain of the Existing Subordinated Notes and subscribe for certain of the Rated Notes in connection with the Retention Requirements as they apply at the Issue Date.