Chicago, Nov. 16 – H.I.G. Capital LLC issued $661.5 million in a collateralized loan obligation being with WhiteHorse Principal Lending CLO 2022-1, Ltd./WhiteHorse Principal Lending CLO 2022-1, LLC listed as issuer, according to a presale report, a note from the placement agent and listing information.
The notes will mature on Oct. 15, 2030.
The CLO consists of $85 million of class A senior secured floating-rate loans at SOFR plus 235 basis points, $315 million of class A senior secured floating-rate notes at SOFR plus 235 bps and $261.5 million of subordinated notes.
H.I.G. Capital LLC will manage the CLO. There is no reinvestment period.
Collateral for the notes consists of first-lien, senior secured, middle-market loans.
Greensledge was the placement agent.
H.I.G. is a Miami-based private equity investment firm.
| Issuers: | WhiteHorse Principal Lending CLO 2022-1, Ltd./WhiteHorse Principal Lending CLO 2022-1, LLC
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| Issue: | Senior secured floating-rate notes, senior secured floating-rate loans and subordinated notes
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| Amount: | $661.5 million
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| Maturity: | Oct. 15, 2030
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| Structure: | Cash flow CLO
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| Placement agent: | Greensledge
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| Manager: | H.I.G. Capital LLC
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| Listing date: | Nov. 8
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| Class A loans
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| Amount: | $85 million
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| Securities: | Senior Secured floating-rate loans
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| Coupon: | SOFR plus 235 bps
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| Rating: | Fitch: AAA
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| Class A notes
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| Amount: | $315 million
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| Securities: | Senior Secured floating-rate notes
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| Coupon: | SOFR plus 235 bps
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| Rating: | Fitch: AAA
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| Subordinated notes
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| Amount: | $261.5 million
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| Securities: | Subordinated notes
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