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 prices $611.6 million CLO; WhiteHorse refinances 2014 CLO; refinancing pace ‘strong’
By Cristal Cody
Tupelo, Miss., Nov. 3 – New issue and refinancing action remains strong in the CLO market.
THL Credit Advisors LLC brought an upsized $611.6 million of notes in the CLO manager’s fourth new CLO offering of the year.
In the refinancing space, WhiteHorse Lending, LLC, formerly known as H.I.G. WhiteHorse Capital, LLC, priced $479.75 million of notes in a vintage 2014 CLO.
Broadly syndicated CLO issuance totals $95 billion with supply expected to reach $110 billion by the end of the year, Wells Fargo Securities, LLC analysts said in a CLO report released on Friday.
“Refi and reset activity continues to remain strong, with nearly $45 billion in resets settled YTD, and more than $115 billion in refis settled YTD,” the analysts said.
In its deal, THL Credit Advisors priced $611.6 million of notes due Nov. 20, 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 on Friday.
The CLO sold $381 million of class A senior secured floating-rate notes at Libor plus 115 bps at the top of the capital structure.
The deal was upsized from $510.5 million.
Morgan Stanley & Co. LLC was the placement agent.
The Boston-based alternative credit investment firm priced two new CLOs and one refinanced CLO in 2016.
© 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.