Onex Credit Partners Announces Initial Public Offering of OCP Senior Credit Fund

All amounts in Canadian dollars unless otherwise stated.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES


Onex Credit Partners, LLC ("OCP") announced today the filing of a preliminary
prospectus for the OCP Senior Credit Fund (the "Fund") with the securities
regulatory authorities in each of the provinces and territories of Canada. The
Fund is offering trust units at a price of $10.00 per unit.


The Fund will be managed by OCP, the exclusive credit investing platform of Onex
Corporation (TSX:OCX), a leading Canadian investment firm with a long
established track record and a disciplined, value-oriented approach to
investing.


The Fund has been established to provide holders of units with a stable source
of tax-advantaged income through exposure to the performance of an actively
managed, diversified portfolio comprised primarily of first lien floating rate
senior secured loans of non-investment grade North American issuers.


The Fund will seek to achieve the following objectives: (i) provide holders of
units with attractive, quarterly, tax-advantaged distributions, initially
targeted to be $0.125 per quarter representing an annual yield of 5% based on
the original issue price of $10.00 per Unit; (ii) preserve capital; and (iii)
generate enhanced returns through increasing cash flow to the portfolio as
interest rates rise. It is expected that quarterly distributions received by
Unitholders will consist primarily of returns of capital for tax purposes.


The syndicate of agents for the offering is co-led by CIBC World Markets Inc.
and RBC Capital Markets, and includes BMO Capital Markets, Scotia Capital Inc.,
National Bank Financial Inc., TD Securities Inc., Dundee Securities Corporation,
GMP Securities L.P., Canaccord Adams, HSBC Securities (Canada) Inc., Macquarie
Private Wealth Inc., Raymond James Ltd., Wellington West Capital Markets Inc.,
Desjardins Securities Inc., Manulife Securities Incorporated and Mackie Research
Capital Corporation.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect", "intend", "will" and similar expressions to the extent they relate to
the Fund. The forward-looking statements are not historical facts but reflect
OCP's current expectations regarding future results or events. These
forward-looking statements are subject to a number of risks and uncertainties
that could cause actual results or events to differ materially from current
expectations. Although OCP believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are cautioned not to
place undue reliance on such statements due to the inherent uncertainty therein.
OCP undertakes no obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new information,
future events or other such factors which affect this information, except as
required by law.


A preliminary prospectus dated September 28, 2010 containing important
information relating to these securities has been filed with securities
commissions or similar authorities in all of the provinces and territories of
Canada. The preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus may be obtained from any of the Agents.
There will not be any sale or any acceptance of an offer to buy the securities
until a receipt for the preliminary prospectus has been issued. All capital
terms used but not otherwise defined have the meanings assigned to such terms in
the preliminary prospectus.