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.

THL places Wind River 2018-2

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.

The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.

THL has priced two new CLOs and refinanced one vintage CLO year to date.

In 2017, THL Credit Advisors priced four new CLOs and refinanced six vintage CLOs.

The alternative credit investment firm is based in Boston.

GSO/Blackstone prints CLO

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.

GSO/Blackstone will manage the CLO.

The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.

GSO/Blackstone is a New York City-based subsidiary of alternative asset manager GSO Capital Partners LP.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.