Investcorp, BlueMountain wrap euro CLOs; Bain prices $506.75 million; THL deal on tap

By Cristal Cody

Tupelo, Miss., March 22 – Two managers closed Friday on new euro-denominated CLO offerings, while details emerged on a new U.S. CLO issue and a U.S. manager prepared to price its third deal of the year.

Investcorp Credit Management EU Ltd. priced €409.45 million of notes in its new broadly syndicated CLO.

BlueMountain Fuji Management, LLC placed €360.3 million of notes in its CLO offering.

In U.S. supply, Bain Capital Credit CLO Advisors, LP priced $506.75 million of notes in its first CLO deal of 2019.

In other action, THL Credit Advisors LLC plans to price $610.9 million of notes in its third CLO offering of the year.

The CLO manager priced the $504.65 million broadly syndicated THL Credit Wind River 2019-1 CLO Ltd./THL Credit Wind River 2019-1 LLC transaction expected to close on April 17 and the $410.5 million THL Credit Lake Shore MM CLO I Ltd. transaction set to close April 23.

THL Credit Advisors priced three new CLOs in 2018.

In other activity, outflows from leveraged loans rose to $260 million for the week ended March 20 from $550 million in the previous week, according to a BofA Merrill Lynch research note released on Friday.

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