CIFC markets $814.34 million CLO; THL Credit Advisors offers deal; secondary volume thins

By Cristal Cody

Tupelo, Miss., Feb. 1 – February kicked off with details of two CLOs in the works following thin new issue volume in January.

CIFC CLO Management LLC is offering $814.34 million of new CLO notes.

THL Credit Advisors LLC is in the deal pipeline with a $510.75 million transaction.

Secondary trading volume in the securitized market totaled $95 million of investment-grade CBO/CDO/CLO issues and $114.5 million of non-high-grade securities on Tuesday, Trace reported.

Trading was lower from Monday when $133.65 million of investment-grade securities and $109.7 million of lower-rated CBO/CDO/CLO issues traded.

In its deal, CIFC Asset Management LLC affiliate CIFC CLO Management intends to price $814.34 million of notes in the CIFC Funding 2017-I Ltd./CIFC Funding 2017-I LLC deal, according to a market source.

The offering includes $503.6 million of class A floating-rate notes (/AAA/); $92 million of class B floating-rate notes; $60.4 million of class C floating-rate notes; $46.4 million of class D floating-rate notes; $33.6 million of class E floating-rate notes and $73.54 million of subordinated notes.

Deutsche Bank Securities Inc. is the placement agent.

Meanwhile, THL Credit Advisors plans to price $510.75 million of notes due April 2029 in the THL Credit Wind River 2017-1 CLO Ltd./THL Credit Wind River 2017-1 LLC transaction, according to a market source.

Morgan Stanley & Co. LLC is the placement agent.

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