By Cristal Cody
Tupelo, Miss., Nov. 4 – Voya Alternative Asset Management LLC priced €253 million of notes due Jan. 15, 2034 in a new euro-denominated broadly syndicated collateralized loan obligation offering, according to market sources.
Voya Euro CLO IV DAC sold €1 million of class X floating-rate notes at Euribor plus 50 basis points, €155 million of class A floating-rate notes at Euribor plus 115 bps, €15.5 million of class B-1 floating-rate notes at Euribor plus 195 bps and €7 million of 2.15% class B-2 fixed-rate notes.
The CLO also priced €18.5 million of class C floating-rate notes at Euribor plus 270 bps, €15.3 million of class D floating-rate notes at Euribor plus 425 bps, €13.8 million of class E floating-rate notes at Euribor plus 665 bps, €6.1 million of class F floating-rate notes at Euribor plus 853 bps and €20.8 million of subordinated notes.
J.P. Morgan Securities plc was the placement agent.
The CLO has a four-year reinvestment period.
The deal is collateralized mostly by senior secured leveraged loans and bonds.
The CLO manager has priced two euro-denominated CLOs year to date.
Voya Alternative Asset Management is an affiliate of New York City-based Voya Investment Management LLC.
Issuer: | Voya Euro CLO IV DAC
|
Amount: | €253 million
|
Maturity: | Jan. 15, 2034
|
Securities: | Fixed-rate, floating-rate and subordinated notes
|
Structure: | Cash flow CLO
|
Placement agent: | J.P. Morgan Securities plc
|
Manager: | Voya Alternative Asset Management LLC
|
Settlement date: | Dec. 2
|
|
Class X notes
|
Amount: | €1 million
|
Securities: | Floating-rate notes
|
Coupon: | Euribor plus 50 bps
|
Ratings: | Fitch: AAA
|
|
Class A notes
|
Amount: | €155 million
|
Securities: | Floating-rate notes
|
Coupon: | Euribor plus 115 bps
|
Ratings: | Fitch: AAA
|
|
Class B-1 notes
|
Amount: | €15.5 million
|
Securities: | Floating-rate notes
|
Coupon: | Euribor plus 195 bps
|
Ratings: | Fitch: AA
|
|
Class B-2 notes
|
Amount: | €7 million
|
Securities: | Fixed-rate notes
|
Coupon: | 2.15%
|
Ratings: | Fitch: AA
|
|
Class C notes
|
Amount: | €18.5 million
|
Securities: | Floating-rate notes
|
Coupon: | Euribor plus 270 bps
|
Ratings: | Fitch: A
|
|
Class D notes
|
Amount: | €15.3 million
|
Securities: | Floating-rate notes
|
Coupon: | Euribor plus 425 bps
|
Ratings: | Fitch: BBB-
|
|
Class E notes
|
Amount: | €13.8 million
|
Securities: | Floating-rate notes
|
Coupon: | Euribor plus 665 bps
|
Ratings: | Fitch: BB-
|
|
Class F notes
|
Amount: | €6.1 million
|
Securities: | Floating-rate notes
|
Coupon: | Euribor plus 853 bps
|
Ratings: | Fitch: B-
|
|
Equity
|
Amount: | €20.8 million
|
Securities: | Subordinated notes
|
Ratings: | Non-rated
|
|
© 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.