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TORONTO, Nov. 1, 2019 /CNW/ - OCP Credit Strategy Fund (TSX: OCS.UN) (the "Fund") announced today that Onex Credit Partners, LLC (the "Manager"), the manager of the Fund, has decided to terminate the Fund on December 31, 2019 or as soon as practicable after such date. The total assets of the Fund have been reduced to a level where the Manager believes it is no longer feasible to continue the Fund and it is in the best interests of unitholders of the Fund ("Unitholders") to terminate the Fund.
In accordance with the Fund's declaration of trust, the Manager may at its discretion, on 30 days' notice to Unitholders, terminate the Fund without the approval of Unitholders if, in the opinion of the Manager, it would be in the best interests of the Unitholders to terminate the Fund. Upon termination, following the conversion of the assets of the Fund to cash, and the satisfaction of, or provision for, all liabilities of the Fund, the net assets of the Fund will be distributed to Unitholders on a pro rata basis. Following such distribution, the Fund will terminate.
SOURCE OCP Credit Strategy Fund
For further information: OCP Senior Credit Fund, Toronto: 647.260.4055, Toll Free: 1.877.260.4055, www.ocpcreditstrategy.com or Onex Credit Partners, LLC, [email protected], 201.541.2121