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Prospect News home > News index > List of issuers Review > Headlines for 2015 > News item
Published on 6/10/2015 in the Prospect News CLO Daily.

Primary improves; Halcyon prices $512.46 million; CIFC refinances AAAs at 135 bps spread

By Cristal Cody

Tupelo, Miss., June 10 – More than $3 billion of CLOs have priced so far in June, according to market sources and data compiled by Prospect News.

Halcyon Loan Advisors LP brought a $512.46 million CLO offering.

In the refinancing space, CIFC Asset Management LLC refinanced a $662 million vintage 2012 CLO transaction.

Nearly $6 billion of CLOs have been refinanced year to date, according to market sources and Prospect News data.

Halcyon prices CLO

Halcyon Loan Advisors priced $512.46 million of notes in the Halcyon Loan Advisors Funding 2015-2 Ltd./Halcyon Loan Advisors Funding 2015-2 LLC deal, a source said.

The CLO sold $316.5 million of class A floating-rate notes at Libor plus 139 basis points in the senior tranche.

Wells Fargo Securities LLC was the placement agent.

Halcyon Loan Advisors will manage the CLO.

Halcyon previously priced the $518 million Halcyon Loan Advisors Funding 2015-1 Ltd./Halcyon Loan Advisors Funding 2015-1 LLC deal on March 17.

The subsidiary of New York City-based Halcyon Loan Management, LLC brought four CLO deals in 2014.

CIFC refinances CLO

CIFC Asset Management refinanced $662 million of notes due Dec. 5, 2024 in the vintage CIFC Funding 2012-II, Ltd. deal, according to details from a market source.

The CLO sold $464 million of class A1-R senior secured floating-rate notes at Libor plus 135 bps at the top of the capital structure.

Morgan Stanley & Co. LLC was the refinancing agent.

CIFC Asset Management is the CLO manager.

Proceeds from the refinancing were used to redeem the original notes.

CIFC previously refinanced the CIFC Funding 2011-I, Ltd. transaction in January.

The credit manager is based in New York City.


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