Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for THL Credit Advisors LLC > News item |
THL to price $510.5 million new CLO; Invesco refinances $435 million 2015 CLO notes
By Cristal Cody
Tupelo, Miss., Oct. 27 – THL Credit Advisors LLC joined the deal pipeline with a $510.5 million CLO, the firm’s third new offering of the year.
The CLO manager’s last new issuance was the $613 million THL Credit Wind River 2017-3 CLO Ltd./THL Credit Wind River 2017-3 LLC deal on Sept. 13.
In refinancing action, Invesco Senior Secured Management, Inc. refinanced $435 million of notes from a 2015 CLO.
New CLO issuance totals almost $90 billion year to date, while CLO refinancing volume is near $140 billion, according to a BofA Merrill Lynch note.
THL offers $510.5 million CLO
THL Credit Advisors plans to price $510.5 million of notes due November 2030 in the new THL Credit Wind River 2017-4 CLO Ltd./THL Credit Wind River 2017-4 LLC transaction, according to a market source.
The deal includes $3 million of class X senior secured floating-rate notes; $317.5 million of class A senior secured floating-rate notes; $57.5 million of class B senior secured floating-rate notes; $31.5 million of class C mezzanine secured deferrable floating-rate notes; $31 million of class D mezzanine secured deferrable floating-rate notes; $22.5 million of class E junior secured deferrable floating-rate notes and $47.5 million of subordinated notes.
Morgan Stanley & Co. LLC is the placement agent.
THL Credit Advisors has priced three new CLOs and refinanced five vintage CLOs year to date.
The Boston-based alternative credit investment firm priced two new CLOs and one refinanced CLO in 2016.
Invesco refinances CLO
Invesco Senior Secured Management refinanced $435 million of notes due Oct. 20, 2027 in four tranches from the vintage 2015 Recette CLO, Ltd./Recette CLO LLC transaction, according to a market source and a notice of executed first supplemental indenture on Thursday.
The CLO priced $325 million of class A-R senior secured floating-rate notes at Libor plus 92 basis points in the senior tranche.
BofA Merrill Lynch was the refinancing agent.
The original $513.5 million transaction was issued Sept. 16, 2015.
Invesco Senior Secured Management is a subsidiary of Atlanta-based Invesco, Ltd.
© 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.