By Cristal Cody
Tupelo, Miss., June 23 – HalseyPoint Asset Management LLC priced $377.75 million of notes due July 20, 2031 in the manager’s first broadly syndicated collateralized loan obligation offering of the year, according to market sources.
HalseyPoint CLO II, Ltd./HalseyPoint CLO II, LLC sold $225 million of class A-1 floating-rate notes at Libor plus 186 basis points, $11.25 million of class A-2 floating-rate notes at Libor plus 249 bps and $39,375,000 of class B floating-rate notes at Libor plus 295 bps.
HalseyPoint CLO II also sold $26.25 million of class C floating-rate notes at Libor plus 353 bps, $22.5 million of class D floating-rate notes at Libor plus 300 bps, $14 million of class E floating-rate notes at Libor plus 300 bps and $39,375,000 of subordinated notes.
GreensLedge Capital Markets LLC and Citigroup Global Markets Inc. were the placement agents.
The CLO has a two-year non-call period and a two-year reinvestment period.
The deal is collateralized primarily by broadly syndicated senior secured corporate loans.
HalseyPoint Asset Management issued its debut CLO transaction, HalseyPoint CLO I, Ltd./HalseyPoint CLO I, LLC, in December.
The Los Angeles-based asset management firm was founded in 2018.
| Issuer: | HalseyPoint CLO II, Ltd./HalseyPoint CLO II, LLC
|
| Amount: | $377.75 million
|
| Maturity: | July 20, 2031
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agents: | GreensLedge Capital Markets LLC and Citigroup Global Markets Inc.
|
| Manager: | HalseyPoint Asset Management LLC
|
| Call feature: | Two years
|
| Pricing date: | June 3
|
| Settlement date: | July 1
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1 notes
|
| Amount: | $225 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 186 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $11.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 249 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $39,375,000
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 295 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $26.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 353 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $22.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $39,375,000
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
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