Bardin Hill brings €359 million CLO; THL prices $611.4 million; Middle Market prints

By Cristal Cody

Tupelo, Miss., May 7 – In the CLO market on Tuesday, Bardin Hill Loan Advisors (UK) LLP closed on a new €359 million European CLO offering that priced in April.

In the senior secured tranches, Bardin Hill Loan Advisors European Funding 2019-1 DAC sold €1.5 million of class X floating-rate notes at Euribor plus 50 basis points, €214 million of class A floating-rate notes at Euribor plus 115 bps, €20 million of class B-1 floating-rate notes at Euribor plus 185 bps and €15 million of 2.5% class B-2 fixed-rate notes.

Separately, THL Credit Advisors LLC priced a $611.4 million CLO deal.

The offering included notes due April 15, 2031 in the THL Credit Wind River 2019-3 CLO Ltd./THL Credit Wind River 2019-3 LLC transaction, according to a market source.

The senior secured tranches included $4 million of class X senior secured floating-rate notes priced at Libor plus 60 bps, $360 million of class A-1 senior secured floating-rate notes placed at Libor plus 133 bps, $24 million of class A-2 senior secured floating-rate notes sold at Libor plus 175 bps and $66 million of class B senior secured floating-rate notes priced at Libor plus 210 bps.

Meanwhile, Middle Market Credit Fund LLC sold $400.3 million of notes and preferred interests in a new static CLO deal.

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