Our Finance Group helps clients navigate the business and legal complexities of novel and multidimensional debt financing transactions. We fully understand the challenges faced by borrowers, investors and lenders throughout a company’s lifecycle, from evolving techniques in acquisition finance to the tensions inherent in distressed situations. We are the firm of choice for the most innovative and complex financing matters, including bespoke structured financings and whole-business securitizations of novel assets and restructurings of multibillion-dollar companies.
Oak Hill Advisors Prices $770 Million CLO
- Client News
- October 24, 2012
Practices
Paul, Weiss client Oak Hill Advisors priced its collateralized loan obligation (CLO) fund, Oak Hill Credit Partners VII. The total capitalization of the fund is $770 million, making it the largest broadly syndicated CLO of 2012 thus far. The CLO was hailed as "groundbreaking" by Creditflux, a leading news source for the credit markets, which also noted that Oak Hill Advisor's CLO is the largest arbitrage CLO since the beginning of the credit crisis. Oak Hill Advisors serves as portfolio manager to the fund, and B of A Merrill Lynch is the placement agent. The fund, a Cayman Islands SPV, will issue multiple classes of Senior secured, floating and fixed rate Notes, and Subordinated Notes. The deal is set to close in the first week of November.
The Paul, Weiss team consisted of corporate partner Eric Goodison and counsel Bruce Gruder; tax partner David Sicular; and ERISA counsel Erin Murphy.