By Cristal Cody
Tupelo, Miss., May 8 – Voya Alternative Asset Management LLC sold $611.3 million of notes due June 7, 2030 in the firm’s second new collateralized loan obligation offering of the year, according to a market source.
Voya CLO 2017-2, Ltd./Voya CLO 2017-2 LLC priced $4.3 million of class X floating-rate notes at Libor plus 95 basis points; $369 million of class A-1 floating-rate notes at Libor plus 121 bps; $77 million of class A-2a floating-rate notes at Libor plus 171 bps; $10 million of 3.79% class A-2b fixed-rate notes; $39 million of class B deferrable floating-rate notes at Libor plus 235 bps; $33 million of class C floating-rate notes at Libor plus 370 bps; $24 million of class D floating-rate notes at Libor plus 645 bps and $55 million of subordinated notes.
Natixis Securities Americas 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 deal is backed primarily by broadly syndicated senior corporate loans.
Voya has priced two new CLOs and refinanced two vintage 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.
| Issuer: | Voya CLO 2017-2, Ltd./Voya CLO 2017-2 LLC
|
| Amount: | $611.3 million
|
| Maturity: | June 7, 2030
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Natixis Securities Americas LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | July 15, 2019
|
| Pricing date: | May 2
|
| Settlement date: | June 7
|
|
|
| Class X notes
|
| Amount: | $4.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 95 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $369 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 121 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2a notes
|
| Amount: | $77 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 171 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-2b notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.79%
|
| Rating: | S&P: AA
|
|
|
| Class B notes
|
| Amount: | $39 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 235 bps
|
| Rating: | S&P: A
|
|
|
| Class C notes
|
| Amount: | $33 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 645 bps
|
| Rating: | S&P: BBB
|
|
|
| Equity
|
| Amount: | $55 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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