By Cristal Cody
Tupelo, Miss., July 11 – THL Credit Advisors LLC priced $424.9 million of notes due Jan. 15, 2026 at par in a second refinancing of the vintage THL Credit Wind River 2012-1 CLO Ltd./THL Credit Wind River 2012-1 LLC transaction, according to a market source.
The CLO sold $304.5 million of class A-R2 floating-rate notes at Libor plus 88 basis points, $60.2 million of class B-R2 floating-rate notes at Libor plus 145 bps, $30.1 million of C-R2 floating-rate notes at Libor plus 205 bps and $30.1 million of class D-R2 floating-rate notes at Libor plus 370 bps.
Citigroup Global Markets Inc. was the refinancing placement agent.
The CLO was originally issued Dec. 20, 2012 and was first refinanced in a $430.32 million offering in October 2016.
Proceeds will be used to redeem the outstanding notes.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
THL has priced two new broadly syndicated CLOs, one new middle-market CLO and one refinanced CLO year to date.
The alternative credit investment firm is based in Boston.
| Issuer: | THL Credit Wind River 2012-1 CLO Ltd./THL Credit Wind River 2012-1 LLC
|
| Amount: | $424.9 million refinancing
|
| Maturity: | Jan. 15, 2026
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Citigroup Global Markets Inc.
|
| Manager: | THL Credit Advisors LLC
|
| Pricing date: | June 20
|
| Settlement date: | July 15
|
|
|
| Class A-R2 notes
|
| Amount: | $304.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 88 bps
|
| Price: | Par
|
| Ratings: | S&P: AAA
|
|
|
| Class B-R2 notes
|
| Amount: | $60.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Price: | Par
|
| Ratings: | S&P: AA
|
|
|
| Class C-R2 notes
|
| Amount: | $30.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Price: | Par
|
| Ratings: | S&P: A
|
|
|
| Class D-R2 notes
|
| Amount: | $30.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Price: | Par
|
| Ratings: | S&P: BBB
|
|
|
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