OCP Credit Funds Announce Estimated Quarterly Distributions

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TORONTO, Dec. 18, 2015 /CNW/ - Onex Credit Partners, LLC announces the following estimated regular distributions ("Estimated Regular Distributions") and estimated special distributions (if any) ("Estimated Special Distributions") for the year ending December 31, 2015.  The final distribution amounts will be confirmed and announced shortly after the year-end and, prior to payment, once each Fund's year-end tax position is finalized.

Estimated Regular Distributions
The following Estimated Regular Distributions will be paid in cash on or before January 15, 2016, to holders of record on December 31, 2015.

Fund	TSX Symbol	Estimated Regular Distribution (per Unit)
OCP Credit Strategy Fund	OCS.UN	$0.175
OCP Senior Credit Fund	OSL.UN	$0.125

Estimated Special Distribution
For the Fund listed below, the Estimated Special Distribution will be paid on or before January 15, 2016, to holders of record on December 31, 2015.  The Estimated Special Distribution will be paid in cash and in units. One-quarter (or $0.1275 per Unit) will be paid in cash, and the balance (or $0.3825 per Unit) will be paid by the issuance of units of the Fund, and immediately thereafter, the issued and outstanding capital of the Fund will be consolidated such that the number of issued and outstanding units of the Fund does not change. As a result, the net asset value per unit of the Fund will decrease by an amount equal to the cash portion of the Estimated Special Distribution. The cash portion of the Estimated Special Distributions is intended to cover the maximum tax liability for capital gains for unitholders in the highest marginal tax bracket (premised on the special distribution being comprised of capital gains).

Fund	TSX Symbol	Estimated Special Distribution (per Unit)
OCP Senior Credit Fund	OSL.UN	$0.51

The actual taxable amounts of all distributions for 2015, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2016.

SOURCE Onex Credit Partners, LLC

please contact the Funds at: Toronto: 647.260.4055, Toll Free: 1.877.260.4055, www.ocpcreditstrategy.com, www.ocpseniorcredit.com