Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Review > Headlines for 2020 > News item |
Voya prices $298.55 million CLO; high-grade CBO/CDO/CLO trade volume tops $1 billion
By Cristal Cody
Tupelo, Miss., June 24 – The CLO primary market remains active in June, while secondary supply also is on the rise this week.
In new issuance, Voya Alternative Asset Management LLC priced $298.55 million of notes in the manager’s first new dollar-denominated broadly syndicated CLO offering of 2020.
Voya was in the primary market earlier this year with a new issue European CLO and one vintage dollar-denominated CLO refinancing.
The manager brought four new dollar-denominated CLOs and one euro-denominated CLO to the market in 2019.
More than $28 billion of CLOs have priced year to date, sources note.
Looking at the secondary market, trading volume hit $1.14 billion in high-grade CBO/CDO/CLO notes on Tuesday, up from $872.01 million on Monday, Trace data shows.
High-grade paper improved slightly to 96.80 over Tuesday’s session from 96.60 on Monday and down from the 97.30 average seen in the same period a week ago.
Trading volume also rose in non-high-grade CBO/CDO/CLO issues to $209.22 million from $102.16 million on Monday.
Non-investment-grade CBO/CDO/CLO issues declined to an average price of 72.30 on Tuesday from 86.40 on Monday. In the same period a week ago, the securities averaged 79.40.
Voya CLO 2020-1 prints
Voya Alternative Asset Management priced 298.55 million of notes due July 16, 2031 in the offering, according to market sources.
Voya CLO 2020-1, Ltd./Voya CLO 2020-1 LLC sold $185 million of class A floating-rate notes at Libor plus 170 basis points in the AAA-rated tranche.
Credit Suisse Securities (USA) LLC was the placement agent.
The CLO is collateralized mostly by broadly syndicated first-lien senior secured loans.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
© 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.