Onex Credit Partners Completes Third CLO Offering

TORONTO, ONTARIO--(Marketwire - March 25, 2013) -

All amounts in U.S. dollars unless otherwise stated

Onex Corporation ("Onex") (TSX:OCX) today announced that Onex Credit Partners, LLC completed its third collateralized loan obligation ("CLO") offering in a private placement transaction that raised $512 million, including $24 million from Onex. A CLO is a leveraged structured vehicle that holds a widely diversified collateral asset portfolio that is funded through the issuance of long-term debt in a series of rated tranches of secured notes and equity.

Including three CLO offerings completed since March 2012, Onex Credit Partners now manages $2.8 billion, including $2.3 billion of third-party capital.

"We're encouraged by the market's receptivity to Onex Credit Partners as a CLO manager," said Michael Gelblat, Chief Executive Officer of Onex Credit Partners. "We continue to see opportunities for further CLO issuance, and our current team and infrastructure have the capability to place a number of offerings each year should market conditions remain attractive."

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 $15 billion of assets under management, including $5 billion of proprietary capital, in private equity, credit securities and real estate. Onex invests its proprietary capital directly and as a substantial limited partner in its Funds.

Onex' businesses have assets of $43 billion, generate annual revenues of $37 billion and employ approximately 250,000 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 third 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.