By Cristal Cody
Tupelo, Miss., Nov. 24 – HalseyPoint Asset Management LLC issued $498.12 million of notes due Nov. 30, 2032 in a broadly syndicated collateralized loan obligation offering that closed on Tuesday, according to market sources.
HalseyPoint CLO 3, Ltd./HalseyPoint CLO 3, LLC sold $280 million of class A-1A floating-rate notes at Libor plus 145 basis points, $25 million of 1.938% class A-1B fixed-rate notes and $10 million of class A-2 floating-rate notes at Libor plus 175 bps.
The CLO priced $55 million of class B-1 floating-rate notes at Libor plus 215 bps and $10 million of 2.729% class B-2 fixed-rate notes.
HalseyPoint CLO 3 also sold $25 million of class C floating-rate notes at Libor plus 275 bps, $15 million of class D-1 floating-rate notes at Libor plus 425 bps, $15 million of class D-2 floating-rate notes at Libor plus 515 bps, $15 million of class E floating-rate notes at Libor plus 834 bps and $48.12 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
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.
HalseyPoint Asset Management has priced two new CLOs year to date following its debut CLO transaction, HalseyPoint CLO I, Ltd./HalseyPoint CLO I, LLC, in December 2019.
The Los Angeles-based asset management firm was founded in 2018.
| Issuer: | HalseyPoint CLO 3, Ltd./HalseyPoint CLO 3, LLC
|
| Amount: | $498.12 million
|
| Maturity: | Nov. 30, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | HalseyPoint Asset Management LLC
|
| Call feature: | Two years
|
| Pricing date: | Oct. 21
|
| Settlement date: | Nov. 24
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1A notes
|
| Amount: | $280 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-1B notes
|
| Amount: | $25 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 1.938%
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $55 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Ratings: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.729%
|
| Ratings: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 275 bps
|
| Ratings: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 425 bps
|
| Ratings: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 515 bps
|
| Ratings: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 834 bps
|
| Ratings: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $48.12 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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