OFS Credit Co. Inc, a newly organized closed-end investment company, filed a registration statement for the sale of an undisclosed amount of common shares in an initial public offering.

OFS Credit plans to primarily invest in equity tranches of collateralized loan obligations, or CLOs, that are collateralized by portfolios consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. The company will also invest in subordinated debt tranches of CLOs. It is advised by OFS Capital Management LLC, which had approximately $1.7 billion of committed assets under management for investment in CLO securities and related investments as of June 30.

The company will apply to list its shares on Nasdaq.