CLO new issue supply steady; THL prices $611 million CLO; GSO/Blackstone brings deal

By Cristal Cody

Tupelo, Miss., Aug. 21 – New issue CLO supply remains steady in August with two more managers in the primary market over the past week.

THL Credit Advisors LLC priced a new $611 million CLO offering on Friday, while GSO/Blackstone Debt Funds Management LLC also came with a new deal late last week.

GSO/Blackstone priced $509.6 million of notes in the CLO transaction on Thursday.

Broadly syndicated new issue CLO volume year to date totals about $70 billion, according to market sources.

In its deal, THL Credit Advisors priced $610,965,000 of notes due July 15, 2030 in the THL Credit Wind River 2018-2 CLO Ltd./THL Credit Wind River 2018-2 LLC transaction on Friday, according to market sources.

The CLO sold $351 million of the class A-1 senior secured floating-rate notes at Libor plus 112 basis points.

The AAA-rated tranches priced with a combined weighted average discount margin of Libor plus 115 bps.

Wells Fargo Securities LLC was the placement agent.

Meanwhile, GSO/Blackstone Debt Funds Management sold $509.6 million of notes due Oct. 20, 2030 in a new CLO offering, according to market sources.

Myers Park CLO Ltd./Myers Park CLO LLC priced $293.75 million of class A-1 floating-rate notes at Libor plus 112 bps at the top of the capital structure.

Barclays arranged the transaction.

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