Chicago, Sept. 24 – Voya Alternative Asset Management LLC priced $476.5 million of notes due Oct. 17, 2032 in a new broadly syndicated collateralized loan obligation offering, according to details from a market source.
Voya CLO 2019-3, Ltd./Voya CLO 2019-3 LLC sold $293.7 million of class A floating-rate notes at Libor plus 131 basis points; $51 million of class B-1 floating-rate notes at Libor plus 185 bps; $12.5 million of class B-2 3.492% fixed-rate notes; $28.1 million of class C deferrable floating-rate notes at Libor plus 260 bps; $28.3 million of class D deferrable floating-rate notes at Libor plus 385 bps; $18.8 million of class E floating-rate notes at Libor plus 700 bps and $44.1 million of subordinated notes.
GreensLedge Capital Markets 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.
The offering is collateralized mostly by broadly syndicated first-lien senior secured loans.
This is Voya’s third CLO in 2019.
The CLO manager priced four new CLO deals each year in 2017 and 2018.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2019-3, Ltd./Voya CLO 2019-3 LLC
|
| Amount: | $476.5 million
|
| Maturity: | Oct. 17, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | GreensLedge Capital Markets LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Two years
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 17
|
|
|
| Class A notes
|
| Amount: | $293.7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 131 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $51 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $12.5 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.492%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $28.1 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $28.3 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 385 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18.8 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 700 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $44.1 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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