latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/citi-prices-the-490m-halseypoint-clo-3-for-halseypoint-asset-management-60875818 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Citi prices the $490M HalseyPoint CLO 3 for HalseyPoint Asset Management

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Citi prices the $490M HalseyPoint CLO 3 for HalseyPoint Asset Management

Citi yesterday priced the $490.37 million HalseyPoint CLO 3 for HalseyPoint Asset Management LLC.

Details are as follows:

SNL Image

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.