Blackstone/GSO, HalseyPoint, AGL, Seix price new CLOs; Apollo, GoldenTree wrap deals

By Cristal Cody

Tupelo, Miss., Dec. 19 – The CLO new issue market remains active in December with several deals in the primary market.

Blackstone/GSO Debt Funds Management LLC priced a $504.6 million CLO.

HalseyPoint Asset Management LLC priced $458.86 million of notes in the manager’s first broadly syndicated CLO deal.

AGL Credit Management LP sold $449.66 million of notes in four tranches in the firm’s second CLO transaction.

In addition, Seix Investment Advisors LLC priced $406.4 million of 13-year notes in a new CLO offering.

In other activity, GoldenTree Loan Management LP closed Thursday on its previously reported $553.55 million GoldenTree Loan Management US CLO 6 Ltd./GoldenTree Loan Management US CLO 6 Inc. offering.

Also, Apollo Management International LLP settled its previously reported €341.3 million second refinancing of the vintage 2014 ALME Loan Funding II DAC transaction on Thursday.

Blackstone/GSO prices

Blackstone/GSO Debt Funds Management priced $504,595,000 of notes due Jan. 20, 2033 in the new issue, according to market sources.

Allegany Park CLO Ltd./Allegany Park CLO LLC sold $320 million of class A floating-rate notes at Libor plus 133 basis points in the AAA-rated tranche.

Wells Fargo Securities LLC was the placement agent.

Blackstone/GSO CLO Management LLC will manage the CLO.

The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.

GSO/Blackstone is a New York City-based subsidiary of alternative asset manager GSO Capital Partners LP.

HalseyPoint’s debut CLO

HalseyPoint Asset Management priced $458.86 million of notes due Jan. 20, 2033 in the inaugural broadly syndicated CLO, according to market sources.

HalseyPoint CLO I, Ltd./HalseyPoint CLO I, LLC sold $217.5 million of class A-1-A1 floating-rate notes at Libor plus 135 bps at the top of the capital structure.

J.P. Morgan Securities LLC was the placement agent.

The CLO is collateralized mainly by broadly syndicated senior secured corporate loans.

HalseyPoint Asset Management is a Los Angeles-based asset management firm founded in 2018.

AGL taps market

AGL Credit Management closed Thursday on a new $449.66 million broadly syndicated CLO offering that priced earlier in December, according to market sources.

AGL Core CLO 2 Ltd. sold $274.5 million of the AAA-rated class A-1 senior secured floating-rate notes at Libor plus 139 bps.

BNP Paribas Securities Corp. was the placement agent.

AGL Core Fund Vintage 2019-1, LP will manage the securities due April 20, 2032.

The offering is collateralized entirely by broadly syndicated first-lien senior secured corporate loans.

AGL has priced two CLOs to date, closing its first transaction, AGL CLO 1 Ltd., in November.

The New York-based investment firm was founded in 2019 and is a subsidiary of the Abu Dhabi Investment Authority.

Seix sells CLO

Seix Investment Advisors priced $406.4 million of 13-year notes in its CLO deal, according to a news release on Thursday.

The Mountain View CLO XV, Ltd./Mountain View CLO XV, LLC transaction priced via Goldman Sachs & Co. LLC.

The CLO is collateralized mainly by broadly syndicated senior secured corporate loans.

The deal is expected to close in the first quarter of 2020.

Additional pricing terms were not immediately available.

The investment management company and affiliated manager of Virtus Investment Partners is based in Park Ridge, N.J.

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