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
|
| Amount: | $451 million refinancing
|
| Maturity: | April 28, 2025
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Mizuho Securities USA LLC
|
| Manager: | Halcyon Loan Advisors 2014-2 LLC
|
| Settlement date: | April 28
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A-1A-R notes
|
| Amount: | $220 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 118 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-1B-R notes
|
| Amount: | $110 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 118 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $82.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class B-R notes
|
| Amount: | $38.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 270 bps
|
| Rating: | Moody’s: A2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
