THL Credit Advisors prices $504.65 million CLO, brings $411 million middle-market deal

By Cristal Cody

Tupelo, Miss., March 14 – THL Credit Advisors LLC priced $504.65 million of notes in the manager’s first broadly syndicated CLO offering of the year.

The CLO manager also priced a $411 million middle-market CLO deal, a source said. Final pricing details were not immediately available on the middle-market offering.

More than $18 billion of broadly syndicated CLOs have priced year to date, while middle-market supply has been thin with just two new issues totaling under $1 billion and one CLO reset priced so far.

Middle-market volume totaled $2 billion in the same period a year ago, according to a Wells Fargo Securities, LLC research report.

THL prints Wind River 2019-1

THL Credit Advisors priced $504.65 million of notes due April 20, 2031 in the THL Credit Wind River 2019-1 CLO Ltd./THL Credit Wind River 2019-1 LLC transaction, according to market sources.

The CLO sold $298.5 million of class A-1 floating-rate notes at Libor plus 133 basis points and $21.5 million of class A-2 floating-rate notes at Libor plus 165 bps in the AAA-rated tranches.

Natixis Securities Americas LLC was the placement agent.

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

THL Credit Advisors priced three new CLOs in 2018.

The alternative credit investment firm is based in Boston.

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