Voya Alternative Asset Management markets $506.65 million Voya CLO 2016-1 deal

By Cristal Cody

Tupelo, Miss., Jan. 13 – Voya Alternative Asset Management LLC plans to price $506.65 million of notes due Jan. 20, 2027 in a new collateralized loan obligation transaction, according to a market source.

The Voya CLO 2016-1, Ltd./Voya CLO 2016-1 LLC offering includes $310 million of class A-1 floating-rate notes (/AAA); $63.2 million of class A-2 floating-rate notes; $34.8 million of class B deferrable floating-rate notes; $27.3 million of class C deferrable floating-rate notes; $23.6 million of class D deferrable floating-rate notes; $10 million of class E deferrable floating-rate notes and $37.75 million of subordinated notes.

J.P. Morgan Securities LLC is the placement agent.

Voya Alternative Asset Management will manage the CLO.

The CLO has a non-call period that ends on July 20, 2018. The reinvestment period is scheduled to end on July 20, 2020.

The deal is backed primarily by broadly syndicated senior secured corporate loans.

Voya Alternative Asset Management, an affiliate of New York City-based Voya Investment Management LLC, priced three CLOs and refinanced two vintage CLO deals in 2015.

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