Voya prices; Octagon upsizes to $770.3 million; Prudential in deal pipeline; ‘busy month’

By Cristal Cody

Tupelo, Miss., July 11 – Voya Alternative Asset Management LLC priced a $517.5 million collateralized loan obligation deal on Friday, according to market sources.

The firm sold $320 million of class A-1 floating-rate notes at Libor plus 142 basis points in the Voya CLO 2014-3, Ltd./Voya CLO 2014-3 LLC offering via BofA Merrill Lynch.

Octagon Credit Investors, LLC also was in the primary market with an upsized $770.3 million CLO deal, according to a source.

Octagon placed the AAA-rated tranche of notes in the Octagon Investment Partners XX, Ltd./Octagon Investment Partners XX, LLC deal via J.P. Morgan Securities LLC at Libor plus 144 bps, on the tight side of the recent range of issuance.

“That’s pretty good,” the source said.

In other new issuance, details emerged on CLO transactions from Allianz Global Investors U.S. LLC and BlackRock Financial Management, Inc.

Allianz priced $462.63 million of notes in the West CLO 2014-1 Ltd./West CLO 2014-1 LLC deal, according to a market source.

The CLO priced the AAA notes at Libor plus 148 bps.

Citigroup Global Markets Inc. arranged the transaction.

Citigroup also arranged BlackRock Financial Management’s $408.83 million CLO deal, a source said.

Meanwhile, Prudential Investment Management, Inc. is in the pipeline with a $615 million CLO deal, according to a market source.

Credit Suisse Securities (USA) LLC is the placement agent.

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