Bardin Hill Investment Partners to price $461.72 million notes in new CLO offering

By Cristal Cody

Tupelo, Miss., Nov. 13 – Bardin Hill Investment Partners LP, formerly known as Halcyon Capital Management LP, is marketing $461.72 million of notes due Jan. 22, 2031 in new broadly syndicated collateralized loan obligation offering, according to a market source.

Halcyon Loan Advisors Funding 2018-2 Ltd./Halcyon Loan Advisors Funding 2018-2 LLC plans to price $263 million of class A-1A senior secured floating-rate notes (Aaa/AAA), $29.5 million of class A-1B senior secured floating-rate notes (Aaa/non-rated) and $49.5 million of class A-2 senior secured floating-rate notes (non-rated/AA/).

The deal also includes $23.4 million of class B senior secured deferrable floating-rate notes (non-rated/A/), $27.9 million of class C senior secured deferrable floating-rate notes (non-rated/BBB-/), $20.7 million of class D senior secured deferrable floating-rate notes (Ba3/non-rated), $4.63 million of class E secured deferrable floating-rate notes (B3/non-rated) and $43.09 million of subordinated notes.

BNP Paribas Securities Corp. is the placement agent.

Halcyon Loan Advisors 2018-2 LLC is the CLO manager.

The CLO has a two-year non-call period and a four-year reinvestment period.

The deal is collateralized primarily by broadly syndicated senior secured corporate loans.

The transaction is expected to close on Dec. 27.

Bardin Hill is a New York City-based investment management firm.

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