Halcyon Loan Advisors Funding 2013-2 plans $465.5 million CLO offering

By Cristal Cody

Tupelo, Miss., June 27 - Halcyon Loan Advisors Funding 2013-2 Ltd./Halcyon Loan Advisors Funding 2013-2 LLC is expected to bring $465.5 million of notes in a CLO offering on Friday or early in the week ahead, according to an informed source on Thursday.

The deal includes $3 million of class X senior secured floating-rate notes due July 8, 2016 (Aaa//); $254 million of class A senior secured floating-rate notes due July 8, 2025 (Aaa//); $46 million of class B-1 senior secured floating-rate notes due July 8, 2025 (Aa2//); $42 million of class B-2 senior secured fixed-rate notes due July 8, 2025 (Aa2//); $27.5 million of class C mezzanine secured deferrable floating-rate notes due July 8, 2025 (A2//); $26.75 million of class D mezzanine secured deferrable floating-rate notes due July 8, 2025 (Baa3//); $22.25 million of class E junior secured deferrable floating-rate notes due July 8, 2025 (Ba3//) and $44 million of subordinated notes due July 8, 2025.

Morgan Stanley & Co., LLC is the placement agent.

Halcyon Loan Advisors 2013-2 LLC, a subsidiary of Halcyon Loan Advisors LP, will manage the CLO.

The notes have a two-year non-callable period and a four-year reinvestment period.

The managed cash-flow CLO is backed by a $450 million broadly syndicated loan portfolio.

The underlying collateral pool is expected to be about 60% ramped when the deal closes.

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