GC Investment resets $796.2 million middle-market CLO; THL refinances $400.25 million

By Cristal Cody

Tupelo, Miss., Nov. 10 – More than $140 billion of CLOs have been refinanced year to date, including the recent refinancing of a 2015 middle-market transaction, according to Prospect News data and market sources.

GC Investment Management LLC sold $796,205,000 of notes in a refinancing and reset of a 2015 middle-market CLO.

In broadly syndicated refinancing activity, THL Credit Senior Loan Strategies LLC priced $400.25 million of notes in a repricing of a 2015 CLO. The transaction is the firm’s sixth CLO refinancing year to date.

In its deal, GC Investment Management sold $796,205,000 of notes in a refinancing and reset of the Golub Capital Partners CLO 24(M)-R, Ltd./Golub Capital Partners CLO 24(M)-R, LLC middle-market transaction, according to a market source and a notice of executed supplemental indenture on Thursday.

The CLO priced $448.25 million of class A-R floating-rate notes at Libor plus 160 bps at the top of the stack.

Wells Fargo Securities LLC arranged the offering.

Meanwhile, THL Credit Senior Loan Strategies priced $400.25 million of notes due Oct. 15, 2027 in a refinancing of the THL Credit Wind River 2015-2 CLO Ltd./THL Credit Wind River 2015-2 LLC transaction, according to a market source and a notice of executed supplemental indenture.

The CLO sold $230.4 million of class A-1-R senior secured floating-rate notes at Libor plus 87 basis points in the senior tranche.

J.P. Morgan Securities LLC arranged the offering.

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