By Cristal Cody
Tupelo, Miss., March 21 – Voya Alternative Asset Management LLC priced $513 million of notes due April 17, 2030 in a new collateralized loan obligation offering, according to a market source.
Voya CLO 2017-1, Ltd./Voya CLO 2017-1 LLC sold $3.1 million of class X floating-rate notes at Libor plus 95 basis points; $320 million of class A floating-rate notes at Libor plus 125 bps; $60 million of class A-2 floating-rate notes at Libor plus 160 bps; $32.5 million of class B deferrable floating-rate notes at Libor plus 230 bps; $27.5 million of class C deferrable floating-rate notes at Libor plus 333 bps; $20 million of class D deferrable floating-rate notes at Libor plus 610 bps and $49.9 million of subordinated notes.
Natixis Securities Americas LLC 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.
Proceeds will be used to purchase a portfolio of about $500 million of mostly first lien senior secured leveraged loans.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The CLO manager priced four new CLOs and refinanced two vintage transactions in 2016.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
Issuer: | Voya CLO 2017-1, Ltd./Voya CLO 2017-1 LLC
|
Amount: | $513 million
|
Maturity: | April 17, 2030
|
Securities: | Floating-rate and subordinated notes
|
Structure: | Cash flow CLO
|
Placement agent: | Natixis Securities Americas LLC
|
Manager: | Voya Alternative Asset Management LLC
|
Call feature: | April 17, 2019
|
Pricing date: | March 10
|
Settlement date: | April 12
|
Distribution: | Rule 144A
|
|
Class X notes
|
Amount: | $3.1 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 95 bps
|
Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
Class A-1 notes
|
Amount: | $320 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 125 bps
|
Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
Class A-2 notes
|
Amount: | $60 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 160 bps
|
Ratings: | Moody’s: Aa2
|
|
Class B notes
|
Amount: | $32.5 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 230 bps
|
Ratings: | Moody’s: A2
|
|
Class C notes
|
Amount: | $27.5 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 333 bps
|
Ratings: | Moody’s: Baa3
|
|
Class D notes
|
Amount: | $20 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 610 bps
|
Ratings: | Moody’s: Ba3
|
|
Equity
|
Amount: | $49.9 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.