By Cristal Cody
Eureka Springs, Ark., May 24 – THL Credit Advisors LLC brought to market a $608.3 million broadly syndicated collateralized loan obligation transaction, according to an informed source.
THL Credit Wind River 2016-1 CLO Ltd./THL Credit Wind River 2016-1 LLC priced $384 million of class A floating-rate notes at Libor plus 165 basis points; $72 million of class B floating-rate notes at Libor plus 235 bps; $36 million of class C floating-rate notes at Libor plus 320 bps; $30 million of class D floating-rate notes at Libor plus 465 bps; $30 million of class E floating-rate notes at Libor plus 750 bps and $56.3 million of subordinated notes.
RBC Capital Markets, LLC was the placement agent.
THL Credit Senior Loan Strategies LLC will manage the CLO.
THL Credit Advisors priced two CLO transactions in 2015.
The alternative credit investment firm is based in Boston.
Issuer: | THL Credit Wind River 2016-1 CLO Ltd./THL Credit Wind River 2016-1 LLC
|
Amount: | $608.3 million
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Securities: | Floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | RBC Capital Markets, LLC
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Manager: | THL Credit Senior Loan Strategies LLC
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Pricing date: | May 18
|
|
Class A notes
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Amount: | $384 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 165 bps
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Price: | Par
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Expected ratings: | Moody’s: Aaa
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| Fitch: AAA
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|
Class B notes
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Amount: | $72 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 235 bps
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Price: | Par
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Expected rating: | Moody’s: Aa2
|
|
Class C notes
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Amount: | $36 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 320 bps
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Price: | Par
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Expected rating: | Moody’s: A2
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|
Class D notes
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Amount: | $30 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 465 bps
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Price: | 95.74
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Expected rating: | Moody’s: Baa3
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|
Class E notes
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Amount: | $30 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 750 bps
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Price: | 93.98
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Expected rating: | Moody’s: Ba3
|
|
Equity
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Amount: | $56.3 million
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Securities: | Subordinated notes
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Expected rating: | Non-rated
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