THL prices new deal, refinances CLO; Voya brings $608 million CLO; secondary volume light

By Cristal Cody

Eureka Springs, Oct. 5 – In the new issue CLO primary market, THL Credit Advisors LLC and Voya Alternative Asset Management LLC priced deals, while THL Credit Advisors and Canyon CLO Advisors LLC also refinanced vintage CLOs.

THL Credit Advisors priced a $655.5 million U.S. risk retention-compliant CLO offering and sold $514.33 million in a reset of a vintage 2012 CLO.

Voya Alternative Asset Management tapped the CLO primary market with a $608 million deal, the firm’s third new CLO of the year.

Canyon CLO Advisors refinanced $302.5 million of notes in a vintage CLO.

Secondary trading volume in the securitized market has been light during the first part of the week.

On Tuesday, $51.53 million traded in 25 high-grade CBO/CDO/CLO issues and $74.9 million traded in 24 non-investment-grade CBO/CDO/CLO securities, according to the latest data from Trace.

Monday’s session saw five high-grade CBO/CDO/CLO issues totaling $35.6 million and 10 non-investment-grade CBO/CDO/CLO securities totaling $86.55 million traded.

In its deal, THL Credit Advisors priced $655.5 million of notes due Oct. 27, 2028 in the THL Credit Wind River 2016-2 CLO Ltd./THL Credit Wind River 2016-2 LLC transaction, according to a market source.

The CLO sold $416 million of class A senior secured floating-rate notes at Libor plus 150 basis points in the AAA-rated tranche.

Morgan Stanley & Co. LLC was the placement agent.

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