THL Credit prepares $447.11 million CLO offering of notes in 11 parts

By Cristal Cody

Tupelo, Miss., Oct. 23 - THL Credit, Inc. plans to price $447.11 million of notes due Jan. 19, 2026 in a collateralized loan obligation offering, according to a market source.

The deal from THL Credit Wind River 2013-2 CLO Ltd./THL Credit Wind River 2013-2 CLO LLC includes $93.74 million of class A-1 senior secured floating-rate notes (Aaa); $147.5 million of class A-2a senior secured floating-rate notes (Aaa); $7.77 million of class A-2b senior secured floating-rate notes (Aaa); $20 million of class A-3 senior secured fixed-rate notes (Aaa); $27.01 million of class B-1 senior secured floating-rate notes; $32.41 million of class B-2 senior secured fixed-rate notes; $30.25 million of class C secured deferrable floating-rate notes; $21.34 million of class D secured deferrable floating-rate notes; $18.64 million of class E secured deferrable floating-rate notes; $6.38 million of class F secured deferrable floating-rate notes and $41.97 million of subordinated notes.

Deutsche Bank Securities, Inc. is the underwriter.

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.

The notes have a non-call period that ends in November 2014 and a reinvestment period that ends in January 2018.

The deal is expected to close on Nov. 14.

Boston-based THL Credit brought the $467.1 million THL Credit Wind River 2013-1 CLO Ltd./THL Credit Wind River 2013-1 CLO LLC deal in April.

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