By Cristal Cody
Tupelo, Miss., Nov. 14 – Voya Alternative Asset Management LLC priced $603.4 million of notes due January 2033 in a new broadly syndicated collateralized loan obligation offering, according to market sources.
Voya CLO 2019-4, Ltd./Voya CLO 2019-4 LLC sold $372 million of class A-1 floating-rate notes at Libor plus 134 basis points, $18 million of class A-2 floating-rate notes at Libor plus 170 bps and $66 million of class B floating-rate notes at Libor plus 200 bps.
The CLO priced $36 million of class C deferrable floating-rate notes at Libor plus 250 bps, $36 million of class D deferrable floating-rate notes at Libor plus 383 bps, $21 million of class E deferrable floating-rate notes at Libor plus 748 bps and $54.4 million of subordinated notes.
Wells Fargo Securities LLC was the placement agent.
The CLO has a two-year non-call period and a five-year reinvestment period.
The offering is collateralized mostly by broadly syndicated first-lien senior secured loans.
Voya has priced four new CLOs year to date.
The CLO manager priced four new CLO deals each year in 2017 and 2018.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2019-4, Ltd./Voya CLO 2019-4 LLC
|
| Amount: | $603.4 million
|
| Securities: | Floating-rate and subordinated notes
|
| Maturity: | January 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Two years
|
| Settlement date: | Dec. 5
|
|
|
| Class A-1 notes
|
| Amount: | $372 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 134 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $18 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: Non-rated
|
|
|
| Class B notes
|
| Amount: | $66 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $36 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 383 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $21 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 748 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $54.4 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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