By Cristal Cody
Tupelo, Miss., April 15 - THL Credit, Inc. sold a $467.1 million collateralized loan obligation, according to a market source.
THL Credit Wind River 2013-1 CLO Ltd./ THL Credit Wind River 2013-1 CLO LLC priced the CLO in seven tranches of notes due April 20, 2025.
THL sold $277 million of class A-1 senior secured floating-rate notes (/AAA/) at Libor plus 115 basis points; $29.3 million of class A-2A senior secured floating-rate notes (/AA/) at Libor plus 190 bps; $22 million of 3.45% class A-2B senior secured fixed-rate notes (/AA/); $38.9 million of class B senior secured deferrable floating-rate notes (/A/) at Libor plus 280 bps; $25.2 million of class C senior secured deferrable floating-rate notes (/BBB/) at Libor plus 340 bps; $23.8 million of class D senior secured deferrable floating-rate notes (/BB/) at Libor plus 460 bps; and $50.9 million of non-rated subordinated notes.
Citigroup Global Markets Inc. arranged the transaction.
The notes have a non-call period that ends on April 15, 2015.
The CLO will be managed by THL Credit Senior Loan Strategies LLC and is backed by a revolving pool of broadly syndicated senior secured loans.
| Issuer: | THL Credit Wind River 2013-1 CLO Ltd./ THL Credit Wind River 2013-1 CLO LLC
|
| Amount: | $467.1 million
|
| Maturity: | April 20, 2025
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash-flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | THL Credit Senior Loan Strategies LLC
|
| Call feature: | Two years
|
| Settlement date: | April 17
|
|
|
| Class A-1 notes
|
| Amount: | $277 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Standard & Poor's: AAA
|
|
|
| Class A-2A notes
|
| Amount: | $29.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | Standard & Poor's: AA
|
|
|
| Class A-2B notes
|
| Amount: | $22 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.45%
|
| Rating: | Standard & Poor's: AA
|
|
|
| Class B notes
|
| Amount: | $38.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 280 bps
|
| Rating: | Standard & Poor's: A
|
|
|
| Class C notes
|
| Amount: | $25.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | Standard & Poor's: BBB
|
|
|
| Class D notes
|
| Amount: | $23.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 460 bps
|
| Rating: | Standard & Poor's: BB
|
|
|
| Equity tranche
|
| Amount: | $50.9 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
|
© 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.
