Onex Credit Partners

Onex Credit Partners

July 07, 2011 08:49 ET

Onex Credit Partners Announces Exercise of Agents' Over-Allotment Option and Announces Expected Distribution Amount

TORONTO, ONTARIO--(Marketwire - July 7, 2011) -


Onex Credit Partners, LLC ("OCP") is pleased to announce that the syndicate of agents for the follow-on offering of OCP Credit Strategy Fund (the "Fund") (TSX:OCS.UN) has partially exercised its over-allotment option and acquired an additional 1,240,000 units of the Fund. In total, the Fund issued 9,840,000 units pursuant to the follow-on offering, yielding gross proceeds of approximately $100 million.

In addition, the Fund announces that the expected distribution amount for the following twelve months is $0.175 per unit per quarter ($0.70 per annum).

The syndicate of agents for the Offering was co-led by RBC Capital Markets. and CIBC World Markets Inc. and included BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Mackie Research Capital Corp., Wellington West Capital Markets Inc. and Rothenberg Capital Management.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Certain statements included herein constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect OCP's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although OCP believes that the assumptions inherent in the forward looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. OCP undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other factors which affect this information, except as required by law.
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