Oak Hill Provides $775 Million Private Loan for Worldpac

Oak Hill Advisors has provided a $775 million private credit loan to help Carlyle Group Inc. finance its acquisition of auto parts distributor Worldpac, according to people with knowledge of the matter.

Pricing on the unitranche — which is a blend of senior and subordinated debt — is 5.5 percentage points over the Secured Overnight Financing Rate, the people said, asking not to be identified discussing a private transaction.

Oak Hill is in discussions to potentially sell some of the loan to some limited partners, they added. The Worldpac financing has leverage of about 5.3 times, which is the ...