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Prospect News home > News index > List of issuers H > Headlines for HalseyPoint CLO II, Ltd. > News item
Published on 6/23/2020 in the Prospect News CLO Daily.

HalseyPoint prices $377.75 million CLO; non-high-grade CBO/CDO/CLO paper gains

By Cristal Cody

Tupelo, Miss., June 23 – In new CLO issuance, HalseyPoint Asset Management LLC priced $377.75 million of notes in the manager’s first deal of the year and second offering to date.

HalseyPoint Asset Management issued its debut CLO transaction, HalseyPoint CLO I, Ltd./HalseyPoint CLO I, LLC, in December.

More than $28 billion of CLOs have priced year to date, sources report.

Meanwhile, CBO/CDO/CLO paper stayed mostly steady to better in secondary trading on Monday from where the paper traded in the prior week.

Investment-grade secondary market volume was strong to start the week with $872.01 million of CBO/CDO/CLO paper traded on Monday, according to Trace data.

Issues traded at an average price of 96.60, down slightly from the 96.80 average seen in the same session a week ago.

Further down the capital structure, $102.16 million of lower-rated securities improved to an average 86.40 on Monday, Trace data shows.

In the same period a week ago, non-high-grade CBO/CDO/CLO issues traded at an average 69.70.

HalseyPoint sells second CLO

HalseyPoint Asset Management priced $377.75 million of notes due July 20, 2031 in the new offering, 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 at the top of the capital structure.

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.

The Los Angeles-based asset management firm was founded in 2018.


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