| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for Voya Investment Management LLC > News item |
Voya prices $395.9 million in second CLO offering; CBO/CDO/CLO secondary volume heavy
By Cristal Cody
Tupelo, Miss., Aug. 13 – Voya Alternative Asset Management LLC priced $395.9 million of notes in the manager’s second new dollar-denominated CLO of the year.
The CLO manager priced the class A-1 tranche of floating-rate notes 10 basis points tighter than where it priced the class A-1 tranche in its first offering, the $298.55 million Voya CLO 2020-1, Ltd./Voya CLO 2020-1 LLC deal, on June 12.
Voya CLO 2020-1 had sold $185 million of class A floating-rate notes at Libor plus 170 bps.
Broadly syndicated CLO volume totals more than $44 billion year to date.
Meanwhile, secondary trading volume has been strong this week, according to Trace data.
On Wednesday, $640.94 million high-grade CBO/CDO/CLO notes traded, while volume totaled $1.25 billion on Tuesday.
The high-grade issues averaged 96.70 in the prior session, down from 98.30 on Tuesday.
Further down the capital structure, $338.79 million of lower-rated paper traded on Wednesday, up from $200.88 million on Tuesday.
The non-investment-grade notes traded at an average 81.90 on Wednesday, up from 79.80 in the previous session.
Voya CLO 2020-2 prices
Voya Alternative Asset Management priced $395.9 million of notes due July 20, 2031 in the offering, according to market sources.
Voya CLO 2020-2, Ltd./Voya CLO 2020-2 LLC sold $231 million of class A-1 floating-rate notes at Libor plus 160 bps at the top of the capital stack.
Natixis Securities Americas LLC was the placement agent.
The CLO is collateralized mostly by broadly syndicated first-lien senior secured loans.
In addition to two new dollar-denominated CLO offerings priced this year, Voya also has priced a new European CLO and one vintage dollar-denominated refinancing deal.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
© 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.