Citi yesterday priced the $490.37 million HalseyPoint CLO 3 for HalseyPoint Asset Management LLC.
Details are as follows:
The deal will close on Nov. 24, with the non-call period ending on May 24, 2022, and the reinvestment period ending on Nov. 24, 2024.
According to KopenTech, this is the 10th CLO to print with applicable margin reset (AMR) language, taking the total volume of deals with AMR language included to more than $4.4 billion.
This is the manager's second CLO this year and third of the 2.0 era. The previous new issue was the $377.75 million HalseyPoint CLO II in June via GreensLedge Capital Markets, which has a weighted average cost of capital of 226.03 bps. Its first CLO priced in December 2019, namely the $458.86 million HalseyPoint CLO I, via J.P. Morgan, which has a WACC of 212.28 bps.
The latest new issue takes the year-to-date volume and deal count to $67.83 billion from 157 deals, versus $99.34 billion from 205 deals in the same period last year.