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H.I.G. Capital eyes September for $410.82 million WhiteHorse VII CLO
By Cristal Cody
Tupelo, Miss., Aug. 26 - Private equity firm H.I.G. Capital, LLC's previously announced $410.82 million collateralized loan obligation offering of notes due 2025 remains in the pipeline with pricing "likely in September," an informed source said on Monday.
The WhiteHorse VII Ltd./WhiteHorse VII LLC transaction includes $238.8 million of class A-1L floating-rate notes (/AAA/); $52.4 million of class A-2L floating-rate notes (/AA/); $31.2 million of class A-3L deferrable floating-rate notes (/A/); $20 million of class B-1L deferrable floating-rate notes (/BBB/); $20.8 million of class B-2L deferrable floating-rate notes; $8.8 million of class B-3L deferrable floating-rate notes (/B/) and $38.82 million of subordinated notes.
RBS Securities Inc. is the placemen agent.
H.I.G. WhiteHorse Capital LLC, the credit affiliate of H.I.G. Capital, will manage the CLO, which is backed by broadly syndicated senior secured corporate loans.
The CLO has a non-callable period that ends September 2015 and a reinvestment period that ends September 2017.
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