By Cristal Cody
Tupelo, Miss., Aug. 13 – Voya Alternative Asset Management LLC priced $395.9 million of notes due July 20, 2031 in a new issue broadly syndicated collateralized loan obligation offering, according to market sources.
Voya CLO 2020-2, Ltd./Voya CLO 2020-2 LLC sold $231 million of class A-1 floating-rate notes at Libor plus 160 basis points, $17 million of 1.77% class A-2 fixed-rate notes and $56 million of class B floating-rate notes at Libor plus 200 bps.
The CLO priced $24 million of class C floating-rate notes at Libor plus 270 bps, $22 million of class D floating-rate notes at Libor plus 425 bps, $12 million of class E floating-rate notes at Libor plus 785 bps and $33.9 million of subordinated notes.
Natixis Securities Americas LLC was the placement agent.
The CLO has a one-year non-call period and a three-year reinvestment period.
The offering is collateralized mostly by broadly syndicated first-lien senior secured loans.
The deal is the manager’s second new dollar-denominated CLO offering year to date.
Voya also has priced a new European CLO and one vintage dollar-denominated refinancing this year.
Voya priced four new dollar-denominated CLOs and one euro-denominated CLO in 2019.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
Issuer: | Voya CLO 2020-2, Ltd./Voya CLO 2020-2 LLC
|
Amount: | $395.9 million
|
Securities: | Fixed-rate, floating-rate and subordinated notes
|
Maturity: | July 20, 2031
|
Structure: | Cash flow CLO
|
Placement agent: | Natixis Securities Americas LLC
|
Manager: | Voya Alternative Asset Management LLC
|
Call feature: | One year
|
Pricing date: | Aug. 5
|
Settlement date: | Aug. 27
|
|
Class A-1 notes
|
Amount: | $231 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 160 bps
|
Ratings: | S&P: AAA
|
|
Class A-2 notes
|
Amount: | $17 million
|
Securities: | Fixed-rate notes
|
Coupon: | 1.77%
|
Ratings: | S&P: AAA
|
|
Class B notes
|
Amount: | $56 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 200 bps
|
Ratings: | S&P: AA
|
|
Class C notes
|
Amount: | $24 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 270 bps
|
Ratings: | S&P: A
|
|
Class D notes
|
Amount: | $22 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 425 bps
|
Ratings: | S&P: BBB-
|
|
Class E notes
|
Amount: | $12 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 785 bps
|
Ratings: | S&P: BB-
|
|
Equity
|
Amount: | $33.9 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.