By Cristal Cody
Tupelo, Miss., Feb. 15 – Voya Alternative Asset Management LLC priced $398.7 million of notes due April 15, 2029 in a new broadly syndicated collateralized loan obligation offering, according to a market source.
Voya CLO 2019-1, Ltd./Voya CLO 2019-1 LLC sold $259 million of class A floating-rate notes at Libor plus 117 basis points, $54 million of class B floating-rate notes at Libor plus 170 bps, $21 million of class C deferrable floating-rate notes at Libor plus 235 bps; $18 million of class D deferrable floating-rate notes at Libor plus 330 bps; $16 million of class E deferrable floating-rate notes at Libor plus 595 bps and $30.7 million of subordinated notes.
Jefferies LLC was the placement agent.
Voya Alternative Asset Management will manage the CLO.
The CLO has an eight-month non-call period and a one-year reinvestment period.
The offering is collateralized mostly by broadly syndicated first-lien senior secured loans.
Voya 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 2019-1, Ltd./Voya CLO 2019-1 LLC
|
| Amount: | $398.7 million
|
| Maturity: | April 15, 2029
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Oct. 15, 2019
|
| Pricing date: | Feb. 13
|
| Settlement date: | March 20
|
|
|
| Class A notes
|
| Amount: | $259 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $54 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $21 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 235 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $18 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 595 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $30.7 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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