Chicago, April 1 – H.I.G. Capital LLC sold $396.6 million in a collateralized loan obligation being issued by H.I.G. Whitehorse Trinity CLO Ltd./H.I.G. Whitehorse Trinity CLO LLC, according to a presale report.
The notes will mature on April 25, 2036.
The CLO consists of $232 million of class A senior secured floating-rate notes at SOFR plus 215 basis points, $40 million of class B senior secured floating-rate notes at SOFR plus 265 bps, $32 million of class C senior secured deferrable floating-rate notes at SOFR plus 330 bps and $92.6 million of subordinated notes.
H.I.G. Capital LLC will manage the collateral through the end of the reinvestment period on April 25, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting March 25, 2036.
J.P. Morgan Securities LLC was the placement agent.
H.I.G. Capital is a Miami-based private equity investment firm.
| Issuer: | H.I.G. Whitehorse Trinity CLO Ltd./H.I.G. Whitehorse Trinity CLO LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $396.6 million
|
| Maturity: | April 25, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | H.I.G. Capital LLC
|
| Call feature: | March 25, 2036
|
| Pricing date: | March 26
|
| Settlement date: | March 28
|
|
|
| Class A notes
|
| Amount: | $232 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
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| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | S&P: A
|
|
|
| Subordinated notes
|
| Amount: | $92.6 million
|
| Securities: | Subordinated notes
|
|
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