By Cristal Cody
Tupelo, Miss., July 29 – Halcyon Loan Advisors LP priced a $510.3 million collateralized loan obligation offering, according to a market source.
Halcyon Loan Advisors Funding 2015-3 Ltd./Halcyon Loan Advisors Funding 2015-3 LLC sold $322.4 million of class A-1 floating-rate notes at Libor plus 155 basis points; $50 million of class A-2 floating-rate notes at Libor plus 225 bps; $27.3 million of class B floating-rate notes at Libor plus 325 bps; $34 million of class C floating-rate notes at Libor plus 390 bps; $27.5 million of class D floating-rate notes at Libor plus 595 bps and $49.1 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Halcyon Loan Advisors will manage the CLO.
Halcyon has placed three CLO transactions year to date.
The subsidiary of New York City-based Halcyon Loan Management, LLC brought four CLO deals in 2014.
| Issuer: | Halcyon Loan Advisors Funding 2015-3 Ltd./Halcyon Loan Advisors Funding 2015-3 LLC
|
| Amount: | $510.3 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Halcyon Loan Advisors LP
|
| Pricing date: | July 23
|
|
|
| Class A-1 notes
|
| Amount: | $322.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class A-2 notes
|
| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class B notes
|
| Amount: | $27.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class C notes
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| Amount: | $34 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 390 bps
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class D notes
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| Amount: | $27.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 595 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Equity
|
| Amount: | $49.1 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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