Halcyon Loan Advisors to price $573.5 million of notes in CLO offering

By Cristal Cody

Tupelo, Miss., Sept. 8 – Halcyon Loan Management LLC plans to price $573.5 million of notes due Oct. 22, 2025 in a collateralized loan obligation offering, according to a market source.

The Halcyon Loan Advisors Funding 2014-3 Ltd./Halcyon Loan Advisors Funding 2014-3 LLC deal includes $4 million of class X floating-rate notes (/AAA/); $330 million of class A floating-rate notes (/AAA/); $76.5 million of class B floating-rate notes; $39 million of class C deferrable floating-rate notes; $34.5 million of class D deferrable floating-rate notes; $26 million of class E deferrable floating-rate notes; $11 million of class F deferrable floating-rate notes and $52.5 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

Halcyon Loan Advisors 2014-3 LLC will manage the CLO.

The non-call period is set to end on Oct. 22, 2016. The reinvestment period is scheduled to end on Oct. 22, 2018.

The CLO is backed primarily by broadly syndicated senior secured loans.

Halcyon Loan Management has priced two CLO transactions to date in 2014, the $417 million Halcyon Loan Advisors Funding 2014-1 Ltd. transaction in February and the $569.53 million Halcyon Loan Advisors Funding 2014-2 Ltd. deal in April.

The New York City-based firm is an affiliate of Halcyon Asset Management LLC.

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