Third-quarter volume forecast steady; Hildene brings firm’s first CLO of year; Voya prices

By Cristal Cody

Tupelo, Miss., July 17 – U.S. CLO issuance is on track to meet market forecasts for the year with more than $68 billion of volume year to date, according to informed sources and Prospect News data.

Wells Fargo Securities LLC analysts forecast $90 billion of CLO issuance in 2015.

Primary action is expected to be steady with a large deal pipeline following the slowdown in second-quarter volume, according to a Wells Fargo report.

In new issuance, Hildene Leveraged Credit LLC raised $358.3 million in the firm’s first CLO deal of the year.

Also, Voya Alternative Asset Management LLC priced a $569 million CLO offering.

Hildene Leveraged Credit sold $358.3 million of notes due July 22, 2027 in a CLO deal, according to a market source.

The Hildene CLO IV Ltd./Hildene CLO IV LLC vehicle priced $206.5 million of class A-1A floating-rate notes at Libor plus 150 basis points in the AAA-rated tranche.

Citigroup Global Markets Inc. was the placement agent.

Voya Alternative Asset Management priced $569 million of notes due July 15, 2027 in the Voya CLO 2015-2, Ltd./Voya CLO 2015-2 LLC deal, according to a market source.

The CLO printed $335.5 million of class A floating-rate notes at Libor plus 140 bps at the top of the capital structure.

Morgan Stanley & Co. LLC was the placement agent.

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