CELF prices €413.5 million Carlyle Euro CLO 2017-1; Voya refinances two vintage CLOs

By Cristal Cody

Tupelo, Miss., April 17 – CELF Advisors LLP priced €413.5 million of notes in a new euro-denominated CLO, bringing the year-to-date volume of euro deals to about €3.5 billion.

In U.S. action, Voya Alternative Asset Management LLC refinanced two vintage CLOs.

The CLO manager sold $535.8 million of notes in a refinancing and reset of a 2014 deal and refinanced $438.4 million of notes from a vintage 2013 CLO.

More than $60 billion of U.S. CLOs have been refinanced year to date, according to market sources.

CELF prices €413.5 million

CELF Advisors priced €413.5 million of notes due July 15, 2030 in a new euro-denominated CLO offering, according to a market source.

Carlyle Euro CLO 2017-1 DAC sold €230 million of class A-1 senior secured floating-rate notes at Euribor plus 86 basis points in the senior tranche.

Credit Suisse Securities (Europe) Ltd. was the placement agent.

CELF Advisors has priced one new euro CLO and refinanced two vintage CLOs year to date.

In 2016, CELF Advisors was in the primary market with two new CLOs and two refinanced CLOs.

The London-based CLO manager is part of Washington, D.C.-based Carlyle Group LP.

Voya resets 2014-2 CLO

Voya Alternative Asset Management sold $535.8 million of notes in a refinancing and reset of a 2014 broadly syndicated CLO, according to a market source.

Voya CLO 2014-2, Ltd./Voya CLO 2014-2 LLC priced $331 million of class A-1-R floating-rate notes at Libor plus 125 bps at the top of the capital structure.

J.P. Morgan Securities LLC arranged the offering.

The maturity on the refinanced notes was extended to April 17, 2030 from the original July 17, 2026 maturity.

The reset CLO has a two-year non-call period and a five-year reinvestment period.

Proceeds were used to redeem the original notes on Monday.

Voya has priced one new CLO and refinanced two CLOs year to date.

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.

Voya refinances 2013-3 notes

Voya Alternative Asset Management also refinanced $438.4 million of notes due Jan. 18, 2026 from the Voya CLO 2013-3, Ltd./Voya CLO 2013-3 LLC deal, according to a market source.

Voya CLO 2013-3 sold $320 million of class A-1-R floating-rate notes at par to yield Libor plus 105 bps in the AAA-rated tranche.

Credit Suisse Securities (USA) LLC was the refinancing agent.

Proceeds will be used to redeem the original notes on Tuesday.

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