Onex Credit Partners Completes Fourth CLO Offering

TORONTO, ONTARIO--(Marketwired - Oct. 28, 2013) -

All amounts in U.S. dollars unless otherwise stated.

Onex Corporation ("Onex") (TSX:OCX) announced today that Onex Credit Partners, LLC completed its fourth collateralized loan obligation ("CLO") offering in a private placement transaction that raised $514 million, including $40 million from Onex. A CLO is a leveraged structured vehicle that holds a diversified portfolio of loans and bonds funded through the issuance of long-term debt in a series of rated tranches.

Onex Credit is focused exclusively on non-investment grade credit investing. Including this offering, Onex Credit manages more than $3.3 billion in senior secured loans and high yield bonds in a variety of strategies.

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $16 billion of assets under management, including $5 billion of Onex capital, in private equity, credit securities and real estate. Onex invests its capital directly and as the largest limited partner in each of its Funds.

Onex' businesses have assets of $44 billion, generate annual revenues of $34 billion and employ approximately 229,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

The securities sold in the fourth CLO offering 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 exemption from registration under that Act. Any future CLO offerings will be made in similar private placement transactions subject to the same restrictions.