H.I.G. Capital plans to sell $410.82 million WhiteHorse VII CLO

By Cristal Cody

Tupelo, Miss., Aug. 16 - Private equity firm H.I.G. Capital, LLC intends to bring a $410.82 million collateralized loan obligation offering of notes due 2025 in the weeks ahead, according to informed sources.

The WhiteHorse VII Ltd./WhiteHorse VII LLC transaction includes $238.8 million of class A-1L floating-rate notes (/AAA/); $52.4 million of class A-2L floating-rate notes (/AA/); $31.2 million of class A-3L deferrable floating-rate notes (/A/); $20 million of class B-1L deferrable floating-rate notes (/BBB/); $20.8 million of class B-2L deferrable floating-rate notes; $8.8 million of class B-3L deferrable floating-rate notes (/B/) and $38.82 million of subordinated notes.

RBS Securities Inc. is the placemen agent.

H.I.G. WhiteHorse Capital LLC, the credit affiliate of H.I.G. Capital, will manage the CLO, which has a non-callable period that ends September 2015 and a reinvestment period that ends September 2017.

The CLO is backed by broadly syndicated senior secured corporate loans.

The transaction is expected to close in September.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.