By Cristal Cody
Tupelo, Miss., Dec. 19 – Halcyon Loan Management, LLC sold $399.7 million of notes due Oct. 18, 2027 in a refinancing of three tranches from a vintage 2015 collateralized loan obligation offering, according to a notice of revised proposed first supplemental indenture on Monday.
Halcyon Loan Advisors Funding 2015-3 Ltd./Halcyon Loan Advisors Funding 2015-3 LLC priced $322.4 million of class A-1-R senior secured floating-rate notes at Libor plus 90 basis points, $50 million of class A-2-R senior secured floating-rate notes at Libor plus 135 bps and $27.3 million of class B-R senior secured deferrable floating-rate notes at Libor plus 180 bps.
J.P. Morgan Securities LLC was the refinancing placement agent.
Halcyon Loan Advisors 2015-3 LLC is the CLO manager.
The original CLO deal was issued on Sept. 3, 2015.
Proceeds from the refinancing will be used to redeem the original class A-1, A-2 and B notes.
The deal is collateralized by broadly syndicated senior secured corporate loans.
Halcyon has refinanced five dollar-denominated CLOs year to date.
The management firm is based in New York.
| Issuer: | Halcyon Loan Advisors Funding 2015-3 Ltd./Halcyon Loan Advisors Funding 2015-3 LLC
|
| Amount: | $399.7 million refinancing
|
| Maturity: | Oct. 18, 2027
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | J.P. Morgan Securities LLC
|
| Manager: | Halcyon Loan Advisors 2015-3 LLC
|
| Settlement date: | Dec. 21
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A-1-R notes
|
| Amount: | $322.4 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Libor plus 90 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class A-2-R notes
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class B-R notes
|
| Amount: | $27.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | Moody’s: A2 expected
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
