By Cristal Cody
Tupelo, Miss., Dec. 19 – HalseyPoint Asset Management LLC priced $458.86 million of notes due Jan. 20, 2033 in an inaugural broadly syndicated collateralized loan obligation offering, 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 basis points, $8 million of 3.11% class A-1-A2 fixed-rate notes, $50 million of class A-2-A floating-rate notes at Libor plus 135 bps, $12.83 million of class A-1-B floating-rate notes at Libor plus 180 bps and $4.17 million of class A-2-B floating-rate notes at Libor plus 180 bps.
The CLO sold $39.5 million of class B-1 floating-rate notes at Libor plus 220 bps and $10 million of 3.86% class B-2 fixed-rate notes.
HalseyPoint also sold $27.63 million of class C deferrable floating-rate notes at Libor plus 300 bps, $26.55 million of class D deferrable floating-rate notes at Libor plus 435 bps, $14.22 million of class E deferrable floating-rate notes at Libor plus 770 bps, $7.65 million of class F deferrable floating-rate notes at Libor plus 820 bps and $40.81 million of subordinated notes.
J.P. Morgan Securities LLC was the placement agent.
The CLO has a two-year non-call period and a five-year reinvestment period.
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.
| Issuer: | HalseyPoint CLO I, Ltd./HalseyPoint CLO I, LLC
|
| Amount: | $458.86 million
|
| Maturity: | Jan. 20, 2033
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | HalseyPoint Asset Management LLC
|
| Call feature: | Two years
|
| Settlement date: | Dec. 20
|
|
|
| Class A-1-A1 notes
|
| Amount: | $217.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Ratings: | S&P: AAA
|
| Kroll: AAA
|
|
|
| Class A-1-A2 notes
|
| Amount: | $8 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.11%
|
| Ratings: | S&P: AAA
|
| Kroll: AAA
|
|
|
| Class A-2-A notes
|
| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Ratings: | S&P: AAA
|
| Kroll: AAA
|
|
|
| Class A-1-B notes
|
| Amount: | $12.83 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Ratings: | S&P: Non-rated
|
|
|
| Class A-2-B notes
|
| Amount: | $4.17 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Ratings: | S&P: Non-rated
|
|
|
| Class B-1 notes
|
| Amount: | $39.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.86%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $27.63 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $26.55 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 435 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14.22 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 770 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | $7.65 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 820 bps
|
| Rating: | S&P: B-
|
|
|
| Equity
|
| Amount: | $40.81 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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