By Cristal Cody
Tupelo, Miss., Aug. 11 – THL Credit Advisors LLC affiliate THL Credit Senior Loan Strategies LLC priced $456 million of notes in two tranches from the THL Credit Wind River 2015-1 CLO Ltd./THL Credit Wind River 2015-1 LLC transaction, according to a market source and a notice of executed second supplemental indenture on Thursday.
The CLO priced $384 million of class A-R senior secured floating-rate notes (Aaa//AAA) at Libor plus 105 basis points.
THL Credit Wind River 2015-1 priced $72 million of class B-R senior secured floating-rate notes (Aa1) at Libor plus 150 bps.
The notes are due July 20, 2027.
Credit Suisse Securities (USA) LLC was the refinancing underwriter.
THL Credit Senior Loan Strategies will continue to manage the CLO.
In the original $616.25 million transaction issued on July 9, 2015, the CLO sold the class A notes at Libor plus 150 bps and the class B notes at Libor plus 210 bps.
Proceeds were used to redeem the original class A and B notes.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
THL Credit Advisors has priced two new CLOs and refinanced three vintage CLOs year to date.
The Boston-based alternative credit investment firm priced two new CLOs and one refinanced CLO in 2016.
| Issuer: | THL Credit Wind River 2015-1 CLO Ltd./THL Credit Wind River 2015-1 CLO LLC
|
| Amount: | $456 million refinancing
|
| Maturity: | July 20, 2027
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
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| Refinancing agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | THL Credit Senior Loan Strategies LLC
|
| Settlement date: | Aug. 9
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A-R notes
|
| Amount: | $384 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 105 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-R notes
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| Amount: | $72 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Moody’s: Aa1
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