THL Credit offers $610.9 million notes in new Wind River 2019-3 CLO

By Cristal Cody

Tupelo, Miss., March 22 – THL Credit Advisors LLC plans to price $610.9 million of notes due April 15, 2031 in the THL Credit Wind River 2019-3 CLO Ltd./THL Credit Wind River 2019-3 LLC transaction, according to a market source.

The offering is expected to include $4 million of class X senior secured floating-rate notes (AAA); $360 million of class A-1 senior secured floating-rate notes (Aaa/AAA); $24 million of class A-2 senior secured floating-rate notes (Aaa/non-rated); $66 million of class B senior secured floating-rate notes (AA); $39.3 million of class C mezzanine secured deferrable floating-rate notes (A); $32.7 million of class D mezzanine secured deferrable floating-rate notes (BBB-); $27.9 million of class E junior secured deferrable floating-rate notes (BB-) and $57 million of subordinated notes.

BNP Paribas Securities Corp. is the placement agent.

The CLO will have a two-year non-call period and a five-year reinvestment period.

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

Closing is expected on May 15.

THL has priced one new broadly syndicated CLO and one middle-market CLO offering year to date.

The alternative credit investment firm is based in Boston.

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