By Cristal Cody
Tupelo, Miss., May 2 – Halcyon Loan Management, LLC refinanced $451 million of notes due April 28, 2025 in a vintage 2014 collateralized loan obligation offering, according to a notice of executed supplemental indenture on Monday.
Halcyon Loan Advisors Funding 2014-2 Ltd./Halcyon Loan Advisors Funding 2014-2 LLC sold $220 million of class A-1A-R senior secured floating-rate notes at Libor plus 118 basis points, $110 million of class A-1B-R senior secured floating-rate notes at Libor plus 118 bps, $82.5 million of class A-2-R senior secured floating-rate notes at Libor plus 180 bps and $38.5 million of class B-R senior secured deferrable floating-rate notes at Libor plus 270 bps.
Mizuho Securities USA LLC was the refinancing agent.
Halcyon Loan Advisors 2014-2 LLC is the CLO manager.
In the original CLO deal priced on April 14, 2014, the CLO sold $220 million of class A-1A senior secured floating-rate notes at Libor plus 160 bps; $110 million of class A-1B senior secured floating-rate notes at Libor plus 142 bps; $82.5 million of class A-2 senior secured floating-rate notes at Libor plus 200 bps; $38.5 million of class B senior secured deferrable floating-rate notes at Libor plus 300 bps; $33 million of class C senior secured deferrable floating-rate notes at Libor plus 350 bps; $27.5 million of class D senior secured deferrable floating-rate notes at Libor plus 500 bps; $5.5 million of class E senior secured deferrable floating-rate notes at Libor plus 575 bps and $52.53 million of subordinated notes.
Proceeds were used to redeem the original class A-1A, A-1B, A-2 and B notes on Friday.
The deal is collateralized by broadly syndicated senior secured corporate loans.
New York City-based Halcyon Loan Management previously was in the U.S. CLO primary market in 2015.
Issuer: | Halcyon Loan Advisors Funding 2014-2 Ltd./Halcyon Loan Advisors Funding 2014-2 LLC
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Amount: | $451 million refinancing
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Maturity: | April 28, 2025
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Securities: | Floating-rate notes
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Structure: | Cash flow CLO
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Refinancing agent: | Mizuho Securities USA LLC
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Manager: | Halcyon Loan Advisors 2014-2 LLC
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Settlement date: | April 28
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Distribution: | Rule 144A, Regulation S
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Class A-1A-R notes
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Amount: | $220 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 118 bps
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Ratings: | Moody’s: Aaa
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| S&P: AAA
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Class A-1B-R notes
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Amount: | $110 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 118 bps
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Ratings: | Moody’s: Aaa
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| S&P: AAA
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Class A-2-R notes
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Amount: | $82.5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 180 bps
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Rating: | Moody’s: Aa2
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Class B-R notes
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Amount: | $38.5 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 270 bps
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Rating: | Moody’s: A2
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