By Cristal Cody
Tupelo, Miss., Nov. 8 – Voya Alternative Asset Management LLC sold $609 million of notes due Oct. 15, 2030 in the firm’s fourth new collateralized loan obligation offering of 2017, according to market sources.
Voya CLO 2017-4, Ltd./Voya CLO 2017-4 LLC priced $357 million of class A-1 floating-rate notes at Libor plus 113 basis points; $27 million of class A-2 floating-rate notes at Libor plus 125 bps; $72 million of class B floating-rate notes at Libor plus 145 bps; $23.5 million of class C-1 floating-rate notes at Libor plus 175 bps; $13.7 million of class C-2 floating-rate notes at Libor plus 175 bps; $31.8 million of class D floating-rate notes at Libor plus 295 bps; $27 million of class E floating-rate notes at Libor plus 630 bps and $57 million of subordinated notes.
Barclays was the arranger.
Voya Alternative Asset Management will manage the CLO.
The CLO has a two-year non-call period and a five-year reinvestment period.
Proceeds will be used to purchase a portfolio of mostly first-lien senior secured leveraged loans.
The deal is backed primarily by broadly syndicated senior corporate loans.
Voya has priced four new CLOs and refinanced two vintage CLOs year to date.
In 2016, the CLO manager placed four new CLOs and refinanced two vintage transactions.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2017-4, Ltd./Voya CLO 2017-4 LLC
|
| Amount: | $609 million
|
| Maturity: | Oct. 15, 2030
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Two years
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 30
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A-1 notes
|
| Amount: | $357 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $72 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Ratings: | Non-rated
|
|
|
| Class C-1 notes
|
| Amount: | $23.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Ratings: | Non-rated
|
|
|
| Class C-2 notes
|
| Amount: | $13.7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Ratings: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $31.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 295 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 630 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $57 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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