By Cristal Cody
Tupelo, Miss., Sept. 4 – Voya Alternative Asset Management LLC sold $809.55 million of notes due Oct. 20, 2027 in a collateralized loan obligation transaction, according to a market source.
Voya CLO 2015-3, Ltd./Voya CLO 2015-3 LLC priced $468.4 million of class A-1a floating-rate notes (//AAA) at Libor plus 145 basis points, $50 million of class A-1 loans (//AAA) at Libor plus 135 bps and $89.4 million of class A-2 floating-rate notes (//AA) at Libor plus 220 bps.
The CLO sold $31.15 million of class B floating-rate notes at Libor plus 290 bps; $56.6 million of class C floating-rate notes at Libor plus 425 bps; $5.3 million of class D-1 floating-rate notes at Libor plus 725 bps; $35.6 million of class D-2 floating-rate notes at Libor plus 545 bps; $16.4 million of class E floating-rate notes at Libor plus 650 bps and $56.7 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Voya Alternative Asset Management will manage the CLO.
The CLO has a two-year non-call period and a five-year reinvestment period.
The deal is backed primarily by broadly syndicated senior secured corporate loans.
Proceeds from the transaction will be used to purchase about an $800 million portfolio of mostly senior secured leveraged loans.
Voya Alternative Asset Management has brought three CLO deals to market year to date.
The affiliate of New York City-based Voya Investment Management LLC priced four CLOs in 2014.
| Issuer: | Voya CLO 2015-3, Ltd./Voya CLO 2015-3 LLC
|
| Amount: | $809.55 million
|
| Maturity: | Oct. 20, 2027
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | 2017
|
| Settlement date: | Sept. 30
|
| Distribution: | Rule 144A
|
|
|
| Class A-1a notes
|
| Amount: | $468.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-1 loans
|
| Amount: | $50 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 135 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $89.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B notes
|
| Amount: | $31.15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 290 bps
|
| Ratings: | Non-rated
|
|
|
| Class C notes
|
| Amount: | $56.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 425 bps
|
| Ratings: | Non-rated
|
|
|
| Class D-1 notes
|
| Amount: | $5.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 725 bps
|
| Ratings: | Non-rated
|
|
|
| Class D-2 notes
|
| Amount: | $35.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 545 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | $16.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $56.7 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.
