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Prospect News home > News index > List of issuers H > Headlines for Halcyon Loan Management, LLC > News item
Published on 9/8/2014 in the Prospect News CLO Daily.

CLO pipeline grows; about $30 billion more forecast to price; Halcyon plans third deal

By Cristal Cody

Tupelo, Miss., Sept. 8 – The CLO deal pipeline is expected to fill in the weeks ahead for a strong finish to the year, according to market sources.

CLOs “continue to enjoy a robust primary market,” Barclays analysts said in a note.

Barclays projects total 2014 CLO issuance in the $120 billion area, according to the research note.

CLO issuance already has climbed to more than $87 billion year to date, higher than the 2013 total of $82.6 billion, according to data compiled by Prospect News.

Coming up, Halcyon Loan Management LLC plans to bring its third CLO offering of the year, a source said.

The Halcyon Loan Advisors Funding 2014-3 Ltd./Halcyon Loan Advisors Funding 2014-3 LLC structure is expected to include $4 million of class X floating-rate notes (/AAA/); $330 million of class A floating-rate notes (/AAA/); $76.5 million of class B floating-rate notes; $39 million of class C deferrable floating-rate notes; $34.5 million of class D deferrable floating-rate notes; $26 million of class E deferrable floating-rate notes; $11 million of class F deferrable floating-rate notes and $52.5 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

Halcyon Loan Advisors 2014-3 LLC will manage the CLO.

New York City-based Halcyon previously brought the $417 million Halcyon Loan Advisors Funding 2014-1 Ltd. transaction and the $569.53 million Halcyon Loan Advisors Funding 2014-2 Ltd. deal this year.

Europe also is expected to see deal action over the fall, according to market sources.

London-based Alcentra Ltd. is marketing a €414 million CLO offering via Morgan Stanley & Co. International plc, according to an informed source.


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