By Cristal Cody
Tupelo, Miss., April 6 – Voya Alternative Asset Management LLC priced €356.3 million of notes due 2031 in a new euro-denominated broadly syndicated collateralized loan obligation offering, according to a market source.
Voya Euro CLO I DAC sold $203 million of class A senior secured floating-rate notes at Libor plus 75 basis points, $36 million of class B-1 senior secured floating-rate notes at Libor plus 115 bps and $15 million of 2.10% class B-2 senior secured fixed-rate notes.
The CLO priced $23 million of class C senior secured deferrable floating-rate notes at Libor plus 160 bps; $18.5 million of class D senior secured deferrable floating-rate notes at Libor plus 250 bps; $19.5 million of class E senior secured deferrable floating-rate notes at Libor plus 458 bps; $9.8 million of class F senior secured deferrable floating-rate notes at Libor plus 662 bps and $31.5 million of subordinated notes.
Credit Suisse Securities (Europe) Ltd. arranged the offering.
Voya Alternative Asset Management will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The deal is collateralized primary by broadly syndicated first lien senior secured corporate loans.
Voya Alternative Asset Management is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya Euro CLO I DAC
|
| Amount: | €356.3 million
|
| Maturity: | 2031
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| Securities: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (Europe) Ltd.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Two years
|
| Pricing date: | March 23
|
| Settlement date: | May 15
|
|
|
| Class A notes
|
| Amount: | $203 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
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| Amount: | $36 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 115 bps
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $15 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 2.10%
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| Ratings: | Moody’s: Aa2
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| S&P: AA
|
|
|
| Class C notes
|
| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Libor plus 160 bps
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
|
|
| Class D notes
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| Amount: | $18.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | $19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 458 bps
|
| Ratings: | Moody’s: Ba2
|
| S&P: BB-
|
|
|
| Class F notes
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| Amount: | $9.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 662 bps
|
| Ratings: | Moody’s: B2
|
| S&P: B-
|
|
|
| Equity
|
| Amount: | $31.5 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
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