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THL Credit Wind River 2013-1 CLO might refinance secured notes
By Angela McDaniels
Tacoma, Wash., May 15 – THL Credit Wind River 2013-1 CLO Ltd. and THL Credit Wind River 2013-1 CLO LLC said some holders of their subordinated notes are considering directing a refinancing.
In order for a refinancing to proceed, a number of conditions will have to be satisfied, according to a notice to noteholders.
The refinancing would affect the class A-1, A-2A, A-2B, B, C and D notes.
In April 2013, the issuers priced $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.
The CLO is managed by THL Credit Senior Loan Strategies LLC.
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