By Cristal Cody
Tupelo, Miss., March 4 – Voya Alternative Asset Management LLC priced $612.5 million of notes due April 18, 2027 in a collateralized loan obligation offering, according to a market source.
Voya CLO 2015-1, Ltd./Voya CLO 2015-1 LLC sold $390 million of class A-1 floating-rate notes at Libor plus 148 basis points, $68.5 million of class A-2 floating-rate notes at Libor plus 210 bps; $27 million of class B deferrable floating-rate notes at Libor plus 300 bps; $37.25 million of class C deferrable floating-rate notes at Libor plus 340 bps; $29.5 million of class D deferrable floating-rate notes at Libor plus 560 bps; $13.75 million of class E deferrable floating-rate notes at Libor plus 650 bps and $46.5 million of subordinated notes.
Credit Suisse Securities (USA) LLC was the placement agent.
Voya Alternative Asset Management will manage the CLO.
The CLO is non-callable until Oct. 18, 2016. The reinvestment period ends April 18, 2019.
The transaction is backed primarily by first-lien senior secured loans and eligible investments.
Voya Alternative Asset Management was in the primary market in 2014 with four CLO deals.
The management firm is part of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2015-1, Ltd./Voya CLO 2015-1 LLC
|
| Amount: | $612.5 million
|
| Maturity: | April 18, 2027
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Oct. 18, 2016
|
| Pricing date: | March 4
|
| Settlement date: | April 2
|
|
|
| Class A-1 notes
|
| Amount: | $390 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 148 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $68.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class B notes
|
| Amount: | $27 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class C notes
|
| Amount: | $37.25 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class D notes
|
| Amount: | $29.5 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 560 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Class E notes
|
| Amount: | $13.75 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Rating: | Moody’s: B3
|
|
|
| Equity tranche
|
| Amount: | $46.5 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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