Latest news with #OaktreeCapitalManagement
Economic Times
28-07-2025
- Business
- Economic Times
Omaxe raises Rs 500 crore from Oaktree Capital; its arm garners Rs 431 crore via debentures
Realty firm Omaxe Group has raised Rs 500 crore from Oaktree Capital Management for development of its existing projects and future growth. ADVERTISEMENT In a regulatory filing on Monday, the company informed that it has raised Rs 500 crore from funds managed by Oaktree Capital Management L P (Oaktree). "The funding will strengthen the company's core and accelerate delivery timelines for residential, commercial, and public-private partnership (PPP) developments, including its infrastructure, commercial, and residential projects," Omaxe said. The funds would also be used as growth capital. Earlier in the day, Omaxe said it has raised Rs 431 crore through the issue of debentures on a private placement basis for business growth. The company informed that its subsidiary -- Omaxe New Chandigarh Developers Pvt Ltd -- has raised Rs 431 crore by issuance and allotment of 43,100 non-convertible debentures (NCDs) of face value Rs 1 lakh each through a private placement basis. ADVERTISEMENT In the last two financial years, Omaxe said it has repaid net Rs 1,285 crore to lenders as principal payment, reducing overall net debt to Rs 300 crore. Omaxe has delivered over 140.17 million sq ft of real estate and construction contracting projects so far. It has a presence in 31 cities of eight states. ADVERTISEMENT The company mainly develops integrated townships, group housing, shopping malls and office spaces. Recently, Omaxe announced the acquisition of a 450-acre land parcel in Indore, Madhya Pradesh to develop a township at an investment of Rs 1,200 crore. PTI
Bloomberg
11-07-2025
- Business
- Bloomberg
'Now Is Credits Prime Time': Oaktree Capital Management's Poli
Oaktree Capital Management assistant portfolio manager for global credit strategy discusses credit spreads with Sonali Basak on 'Real Yield.' (Source: Bloomberg)
Business Wire
08-07-2025
- Business
- Business Wire
Superior to be Acquired by a Group of Existing Term Loan Investors Committed to Its Long-Term Stability and Growth
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Superior Industries International, Inc. ('Superior' or the 'Company') (OTC Pink:SSUP) today announced it has entered into definitive agreements to be acquired by a group of its term loan investors (the 'Investors'), including Oaktree Capital Management. As part of the transaction, the Investors will convert a significant portion of their term loans into equity which, alongside the extinguishment of the Company's preferred stock, will better position the business for long-term growth with customers and suppliers across the global wheel industry. Under the terms of the transaction agreements, which have been approved by Superior's Board of Directors: The acquisition will be implemented via a merger with an entity indirectly owned by the Investors. The Investors will convert up to approximately $550 million of their term loan claims into 96.5% of the common equity of an indirect parent company of the surviving entity (the 'New Equity'). The Company's existing revolving credit facility and factoring facilities will remain in place on their current terms or be refinanced prior to the closing of the transaction. Holders of the Company's common stock will receive, in the aggregate, approximately $3.1 million in cash, and the holder of the Company's preferred stock will receive approximately $6.2 million in cash and an aggregate of 3.5% of the New Equity. Company stockholders representing approximately 40% of the Company's voting power have entered into voting and support agreements to approve the transaction. As a result of the transaction, funded debt will be reduced by nearly 90% from approximately $982 million (inclusive of the preferred stock) to approximately $125 million. By addressing the over-leveraged balance sheet, this transaction will eliminate a major distraction and allow Superior to refocus on delivering high quality, cost-competitive wheels to all of its customers. 'This transaction represents a pivotal milestone for Superior. Our term loan investors are reaffirming their confidence in the business and stepping in to provide the necessary financial foundation to support our long-term success,' said Majdi Abulaban, President and Chief Executive Officer. 'With the broadest portfolio in the industry, a strategically advantaged footprint, and a newly minted best-in-class balance sheet, we are well positioned to capitalize on growth opportunities with both existing and new OEM customers. More than ever, we are seeing unprecedented levels of RFQs as customers seek to de-risk long supply chains and respond to evolving tariff dynamics.' 'Despite recent headwinds with certain of its customers, the demand for high-quality, cost-competitive, in-region manufacturing capacity is greater than ever, and we are excited to support the Superior leadership team in this next phase,' said Robert LaRoche, Managing Director at Oaktree Capital Management. The transactions are expected to close in the third quarter of 2025 and are subject to customary closing conditions and receipt of required regulatory approvals. Following the closing, the Company will become privately held. Advisors Lazard is serving as the Company's investment banker, Alvarez & Marsal is serving as financial advisor and Weil, Gotshal & Manges LLP is serving as legal counsel to Superior. Riveron is serving as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the ad hoc group of term loan investors. About Superior Industries Superior is one of the world's leading aluminum wheel suppliers. Superior's team collaborates with customers to design, engineer, and manufacture a wide variety of innovative and high-quality products utilizing the latest light weighting and finishing technologies. Superior serves the European aftermarket with the brands ATS®, RIAL®, ALUTEC®, and ANZIO®. Headquartered in Southfield, Michigan, Superior is listed on the OTC Pink Limited Exchange. For more information, please visit About Oaktree Capital Management, L.P. Oaktree is a leader among global investment managers specializing in alternative investments, with $203 billion in assets under management as of March 31, 2025. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree's website at Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended (the 'Securities Act') and Section 21E of the Exchange Act of 1934, as amended (the 'Exchanged Act'). In this context, forward-looking statements often address future business and financial events, conditions, expectations, plans or ambitions, and often include, but are not limited to, words such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'could,' 'would,' 'anticipate,' 'estimate,' 'intend,' 'plan,' 'seek,' 'see,' 'target,' or similar expressions, or variations or negatives of these words, but not all forward-looking statements include such words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transactions contemplated by the definitive transaction agreements (the 'Proposed Transactions'), including the expected time period to consummate the Proposed Transactions, and the anticipated benefits thereof. All such forward-looking statements are based upon current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions, many of which are beyond the control of the Company and the Investors, that could cause actual results to differ materially from those expressed in such forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: the substantial doubt regarding the Company's ability to continue as a going concern; the consummation of the Proposed Transactions on the anticipated terms and timing, or at all, including obtaining regulatory approvals and receipt of the approval of the Company's stockholders; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive transaction agreements; the anticipated tax treatment of the Proposed Transactions; the possibility that any of the anticipated benefits of the Proposed Transactions will not be realized or will not be realized within the expected time period; potential litigation relating to the Proposed Transactions; the risk that disruptions from the Proposed Transactions will harm the Company's business, including current plans and operations and that management's time and attention will be diverted on transaction-related issues; potential adverse reactions or changes to business relationships, including with employees, suppliers, customers, competitors or credit rating agencies, resulting from the announcement or completion of the Proposed Transactions; the potential for modification or adjustment of the definitive transaction agreements; the parties' ability to satisfy their respective conditions and consummate the Proposed Transactions; certain restrictions during the pendency of the Proposed Transactions that may impact the Company's financial performance, operating results, ability to pursue certain business opportunities or strategic transactions or otherwise operate its business; fees, costs and expenses and the possibility that the Proposed Transactions may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the effects of industry, market, economic, political or regulatory conditions outside of the Company's control; future fluctuations in the Company's market capitalization and stockholders' equity; the expected timing and process for the delisting of the Company's common stock from the New York Stock Exchange and deregistration under the Securities Act; other risks related to the Proposed Transactions that will be included in the Company's proxy statement on Schedule 14A (the 'Proxy Statement') to be filed with the U.S. Securities and Exchange Commission (the 'SEC'); and those risks described in Item 1A of Part I of the Company's Annual Report on Form 10-K, filed with the SEC on March 6, 2025, in Item 1A of Part II of the Company's Quarterly Report on Form 10-Q, filed with the SEC on May 12, 2025, and the Company's other filings with the SEC. These disclosures are incorporated by reference in this communication. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is as of the date of this communication. The Company does not intend to update these statements unless required by securities or other applicable laws to do so, and the Company undertakes no obligation to publicly release the result of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this communication. No Offer or Solicitation; Additional Information and Where to Find It This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In connection with the Proposed Transactions, the Company intends to file relevant materials with the SEC, including the Proxy Statement. This press release is not a substitute for the Proxy Statement or any other document that the Company may file with the SEC or send to its stockholders in connection with the Proposed Transactions. STOCKHOLDERS OF THE COMPANY ARE ADVISED AND URGED TO READ THE PROXY STATEMENT AND ANY OTHER DOCUMENTS FILED BY THE COMPANY WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTIONS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTIONS AND THE BUSINESS TO BE CONDUCTED AT THE SPECIAL MEETING OF THE COMPANY'S STOCKHOLDERS TO BE HELD IN CONNECTION WITH THE PROPOSED TRANSACTIONS. All such documents, when filed, may be obtained free of charge at the SEC's website ( These documents, once available, and the Company's other filings with the SEC also will be available free of charge on the Company's website at Participants in the Solicitation The Company, its directors and certain of its executive officers and employees may be deemed participants in the solicitation of proxies from the Company's stockholders in connection with the Proposed Transactions. Information regarding the names of the Company's directors and executive officers and certain other individuals and their respective interests in the Company by security holdings or otherwise is set forth in the Company's definitive proxy statement on Schedule 14A for its 2025 annual meeting of stockholders, filed with the SEC on April 3, 2025 (the '2025 Definitive Proxy'), which is available at Please refer to the sections captioned 'Voting Securities and Principal Ownership' and 'Executive Compensation and Related Information' in the 2025 Definitive Proxy. To the extent that certain Company participants or their affiliates have acquired or disposed of security holdings since the 'as of' date disclosed in the 2025 Definitive Proxy, such transactions have been or will be reflected on Statements of Change in Ownership on Form 4 or amendments to beneficial ownership reports on Schedules 13D filed with the SEC, which are available at Such filings and the 2025 Definitive Proxy are available free of charge on the Company's website at or through the SEC's website at Updated information regarding the identity of potential participants, and their direct or indirect interests in the Company, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the Proposed Transactions.
Business Insider
21-06-2025
- Business
- Business Insider
Howard Marks says he used AI tool Perplexity to help write his latest memo
Howard Marks' memos are considered must-reads by many in the financial world, including Warren Buffett. Perplexity, an AI-powered search engine, helped write a chunk of his latest missive. Marks, the billionaire co-founder and co-chairman of Oaktree Capital Management, has been writing memos for 35 years and turns 80 next year. That makes it perhaps a little surprising that he's drafted in a machine as a contributor. "In a sign of the times, I'll let my new (and AI-powered) editorial assistant, Perplexity, fill you in on the background," Marks said in a Wednesday memo titled "More on Repealing the Laws of Economics." The veteran fund manager said he hadn't "changed a word" of Perplexity's output, which was "pretty close to what I would have produced in an hour or two." In support of his argument for free-market economics and less government intervention, Marks roped in the AI tool to lay out how regulations have distorted the fire insurance sector in California, resulting in widespread underinsurance. "As Perplexity notes, insurers were told they couldn't price fire policies to reflect increases in the frequency and severity of forest fires," Marks said. "Likewise, they couldn't raise prices to pass through the higher premiums their reinsurers were charging based on the increased frequency and severity." The distressed-debt investor asked whether a hypothetical insurer would cover a $5 million house with a 1% chance of burning down if the regulator only allowed it to charge $25,000 a year for a policy. "I didn't need Perplexity to tell me the insurance company faces an expected payout of $50,000 on that policy," Marks said. "The answer's simple: you don't write that policy." AI tools are divisive. Proponents hail them as productivity boosters that will free workers from mundane tasks and supercharge economic growth. Critics fear they'll stymie learning and development, erode skills, and destroy so many jobs that they cause mass unemployment. Marks may have embraced AI but he still finds value in human wisdom. In his new memo, he quoted Buffett saying the US fiscal deficit was "unsustainable" and could become "uncontrollable" during Berkshire Hathaway's annual meeting in May. The Wall Street legend also included his own colourful, incisive comments: "The behavior in Washington with regard to both the fiscal deficit and the precariousness of Social Security remind me of the tale of the guy who jumped off the 20-story building. As he passed the 10th floor, he said, 'so far, so good.'" Marks may be in his golden years and as skeptical of high-flying assets as ever, yet seems open-minded about innovations. For example, he went from dismissing bitcoin as "not real" in 2017, to trumpeting its privacy and convenience in 2021 after learning about cryptocurrencies from his son. He's clearly finding uses for AI too.
Mint
10-06-2025
- Business
- Mint
Andy Mukherjee: Foreign money has rushed in where local lenders fear to tread
India is a sizzling market for private credit, though some participants are wondering if in their eagerness to close deals, investors are shutting their eyes to risks, especially the legal minefields around collateral and bankruptcy. A decade ago, India's banks were struggling with the world's biggest load of soured corporate loans. At about $200 billion, the write-offs on that exposure have been large. Deposit-taking institutions that tried to recover the debt via insolvency proceedings have had to accept harsh haircuts. Traditional lenders are so scared by that experience that personal credit, which was less than half of banks' advances to industry 10 years ago, is now 1.5 times as large and growing nearly twice as fast. Credit demand and supply have changed in other ways, too. Large firms, traditionally the heaviest users of bank financing, seem the least interested in project finance. They are borrowing selectively to fund acquisitions and refinance existing debt rather than to create new capacity. Also Read: Finance in India has a new bogey called private credit Startups and their founders are far more eager to raise debt, though that's mostly because venture capital funds have become stingy. Initial public offerings are being delayed in a slowing economy, and equity valuations for many unlisted firms are cooling off. Non-bank financiers, too, are starved for funding. Banks have turned cautious about these firms' exposure to overleveraged households. This is a perfect scenario for non-traditional lenders—global insurers, asset managers and sovereign wealth funds—to fill in the void left by banks and pocket a cool 18-20% return. Värde Partners, Oaktree Capital Management and Davidson Kempner are among the most aggressive, though everyone from BlackRock to Allianz Global Investors is participating enthusiastically in the deal-making. Local players appear quite miffed. Even though they're in on many small loans, the foreign money deluge is cutting them out of marquee transactions. Domestic private-credit ventures, especially those affiliated with banks, are also keen to earn high rates of return on capital. But they're more interested in the return of capital. Some of them have struggled to raise funds because they aren't seen as bold enough. Also Read: Much more private credit will be needed to feed India's rapid economic expansion Their foreign rivals, meanwhile, lack neither capital nor courage. As a few prominent Mumbai financiers told me, overseas institutions may be mispricing the true credit risk, which won't end well. Greed may hurt foreign investors, who will then cry that it's hard to get repaid in India. Some already are. In 2021, US lenders gave $1.2 billion to Indian entrepreneur Byju Raveendran for his eponymous online education venture, then the country's most valuable startup. Now Byju's has collapsed and the money is largely gone. Creditors will be lucky to get even a few cents on the dollar from bankruptcy proceedings in India. And yet, Byju's is no longer a cautionary tale in a gung-ho market. Creditors are chasing special situations, such as a nephew who needs a hefty loan to buy out an uncle. The other opportunity is in restructuring. Last month, Shapoorji Pallonji Group, a real estate and construction conglomerate, raised $3.4 billion from Deutsche Bank and other investors to refinance previous high-cost debt. This deal, a new record for India's private-credit market, has raised eyebrows. Although repayment is due in three years, the yield on the zero-coupon bond is as high as 19.75%. The collateral is also tricky. The deal is reportedly backed by about $3.6 billion of real estate and investments in oil and gas. The crown jewel is a 9.2% stake in Tata Sons, valued at roughly $18.6 billion. Also Read: Shapoorji Pallonji Real Estate rejigs top deck, appoints dual CEOs But how will value from the holding company of Tata Group, whose listed units are worth $325 billion, ever be realized? Shares in privately held Tata Sons aren't freely transferable. That's the official position of the charitable trusts that are its majority shareholders. Maybe investors are betting that the trusts will eventually relent or that they will buy out Shapoorji, the largest minority shareholder. Neither outcome can be predicted with any degree of bold bet shines a light on the buccaneering spirit that has taken over India's nascent private-credit industry. Policymakers would want to see more risk-taking in creation of new assets. India's new central bank chief has slashed interest rates, reducing the repo rate by a more-than-expected half percentage point on Friday. He has also flooded the financial system with liquidity. But given the cloudy outlook for global trade and local consumption, corporate investment isn't India Inc's priority. Swapping assets among one another is. As for the money, there are enough private lenders willing to write checks of $100 million or more. And if they don't, someone else will. ©Bloomberg The author is a Bloomberg Opinion columnist covering industrial companies and financial services in Asia.
