THL Credit Advisors markets $510.75 million THL Credit Wind River 2017-1 CLO

By Cristal Cody

Tupelo, Miss., Feb. 1 – THL Credit Advisors LLC plans to price $510.75 million of notes due April 2029 in the THL Credit Wind River 2017-1 CLO Ltd./THL Credit Wind River 2017-1 LLC transaction, according to a market source.

The collateralized loan obligation deal includes $325 million of class A senior secured floating-rate notes (Aaa//AAA); $55 million of class B senior secured floating-rate notes (Aa2); $30 million of class C mezzanine secured deferrable floating-rate notes (A2); $27.5 million of class D mezzanine secured deferrable floating-rate notes (Baa3); $22.5 million of class E junior secured deferrable floating-rate notes (Ba3) and $50.75 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

THL Credit Advisors will manage the CLO.

The CLO has a two-year non-call period and a four-year reinvestment period.

Proceeds from the deal will be used to purchase a portfolio of about $500 million of mostly first-lien senior secured leveraged loans.

The offering is backed primarily by broadly syndicated first-lien senior secured corporate loans.

THL Credit Advisors priced two new CLOs and refinanced one vintage CLO transaction in 2016.

The alternative credit investment firm is based in Boston.

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