H.I.G. WhiteHorse Capital to price $512.5 million of notes in WhiteHorse X CLO

By Cristal Cody

Tupelo, Miss., March 19 – H.I.G. WhiteHorse Capital, LLC intends to price $512.5 million of notes due 2027 in the WhiteHorse X Ltd./WhiteHorse X LLC collateralized loan obligation offering, according to a market source.

The deal includes $315 million of class A senior secured floating-rate notes (Aaa//); $35.75 million of class B-1 senior secured floating-rate notes (Aa2//); $30 million of class B-2 senior secured fixed-rate notes (Aa2//); $26.75 million of class C deferrable floating-rate notes (A2//); $27.5 million of class D deferrable floating-rate notes (baa3//); $25 million of class E deferrable floating-rate notes (Ba3//); $7.75 million of class F deferrable floating-rate notes (B2//) and $44.75 million of subordinated notes.

BofA Merrill Lynch is the placement agent.

The CLO, backed by first lien senior secured corporate loans and eligible investments, has a two-year non-callable period and a four-year reinvestment period.

H.I.G. WhiteHorse Capital will manage the CLO.

The company brought three CLO transactions in 2014.

Dallas-based H.I.G. WhiteHorse Capital is the credit affiliate of private equity firm H.I.G. Capital, LLC.

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