By Cristal Cody
Tupelo, Miss., March 24 – Halcyon Loan Advisors LP priced a $518 million collateralized loan obligation offering, according to a market source.
Halcyon Loan Advisors Funding 2015-1 Ltd./Halcyon Loan Advisors Funding 2015-1 LLC sold $4 million of class X floating-rate notes at Libor plus 100 basis points; $310 million of class A floating-rate notes at Libor plus 145 bps; $25 million of class B-1 floating-rate notes at Libor plus 222 bps; $35 million of class B-2 floating-rate notes at Libor plus 193 bps; $35 million of class C floating-rate notes at Libor plus 314 bps; $30 million of class D floating-rate notes at Libor plus 380 bps; $25 million of class E floating-rate notes at Libor plus 565 bps; $10 million of class F floating-rate notes at Libor plus 692 bps and $44 million of subordinated notes.
Morgan Stanley & Co. LLC was the placement agent.
Halcyon Loan Advisors will manage the CLO.
The subsidiary of New York City-based Halcyon Loan Management, LLC priced four CLO deals in the U.S. and European markets in 2014.
| Issuer: | Halcyon Loan Advisors Funding 2015-1 Ltd./Halcyon Loan Advisors Funding 2015-1 LLC
|
| Amount: | $518 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Halcyon Loan Advisors LP
|
| Pricing date: | March 17
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Expected ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | $310 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Expected ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
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| Amount: | $25 million
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| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 222 bps
|
| Expected rating: | Moody’s: Aa2
|
|
|
| Class B-2 notes
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| Amount: | $35 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 193 bps
|
| Expected rating: | Moody’s: Aa2
|
|
|
| Class C notes
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| Amount: | $35 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 314 bps
|
| Expected rating: | Moody’s: A2
|
|
|
| Class D notes
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| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 380 bps
|
| Expected rating: | Moody’s: Baa3
|
|
|
| Class E notes
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| Amount: | $25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 565 bps
|
| Expected rating: | Moody’s: Ba3
|
|
|
| Class F notes
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| Amount: | $10 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 692 bps
|
| Expected rating: | Moody’s: B3
|
|
|
| Equity
|
| Amount: | $44 million
|
| Securities: | Subordinated notes
|
| Expected rating: | Non-rated
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