By Cristal Cody
Tupelo, Miss., Nov. 4 – Voya Alternative Asset Management LLC priced €253 million of notes due Jan. 15, 2034 in a new euro-denominated broadly syndicated collateralized loan obligation offering, according to market sources.
Voya Euro CLO IV DAC sold €1 million of class X floating-rate notes at Euribor plus 50 basis points, €155 million of class A floating-rate notes at Euribor plus 115 bps, €15.5 million of class B-1 floating-rate notes at Euribor plus 195 bps and €7 million of 2.15% class B-2 fixed-rate notes.
The CLO also priced €18.5 million of class C floating-rate notes at Euribor plus 270 bps, €15.3 million of class D floating-rate notes at Euribor plus 425 bps, €13.8 million of class E floating-rate notes at Euribor plus 665 bps, €6.1 million of class F floating-rate notes at Euribor plus 853 bps and €20.8 million of subordinated notes.
J.P. Morgan Securities plc was the placement agent.
The CLO has a four-year reinvestment period.
The deal is collateralized mostly by senior secured leveraged loans and bonds.
The CLO manager has priced two euro-denominated CLOs year to date.
Voya Alternative Asset Management is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya Euro CLO IV DAC
|
| Amount: | €253 million
|
| Maturity: | Jan. 15, 2034
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities plc
|
| Manager: | Voya Alternative Asset Management LLC
|
| Settlement date: | Dec. 2
|
|
|
| Class X notes
|
| Amount: | €1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Ratings: | Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €155 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 115 bps
|
| Ratings: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €15.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 195 bps
|
| Ratings: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €7 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.15%
|
| Ratings: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €18.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 270 bps
|
| Ratings: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | €15.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 425 bps
|
| Ratings: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €13.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 665 bps
|
| Ratings: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €6.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 853 bps
|
| Ratings: | Fitch: B-
|
|
|
| Equity
|
| Amount: | €20.8 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
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