By Cristal Cody
Tupelo, Miss., May 6 – Voya Alternative Asset Management LLC priced €405,175,000 of notes due July 15, 2032 in the manager’s second euro-denominated broadly syndicated collateralized loan obligation transaction, according to market sources.
Voya Euro CLO II DAC sold €2.25 million of class X senior secured floating-rate notes at Euribor plus 55 basis points, €248 million of class A senior secured floating-rate notes at Euribor plus 114 bps, €28,275,000 of class B-1 senior secured floating-rate notes at Euribor plus 185 bps and €10 million of 2.7% class B-2 senior secured fixed-rate notes.
The CLO priced €26.3 million of class C senior secured deferrable floating-rate notes at Euribor plus 280 bps, €22.85 million of class D senior secured deferrable floating-rate notes at Euribor plus 400 bps, €24 million of class E senior secured deferrable floating-rate notes at Euribor plus 594 bps and €9.15 million of class F senior secured deferrable floating-rate notes at Euribor plus 859 bps.
The deal included €33,724,000 of class M-1 subordinated notes and €626,000 of class M-2 subordinated notes.
Citigroup Global Markets Ltd. was the placement agent.
Voya Alternative Asset Management will manage the CLO.
The deal is collateralized primarily by senior secured obligations.
The CLO manager priced its first euro offering in 2018.
Voya Alternative Asset Management is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya Euro CLO II DAC
|
| Amount: | €405,175,000
|
| Maturity: | July 15, 2032
|
| Securities: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Ltd.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Two years
|
| Pricing date: | May 2
|
| Settlement date: | June 20
|
|
|
| Class X notes
|
| Amount: | €2.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 55 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 114 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €28,275,000
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 185 bps
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.7%
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €26.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 280 bps
|
| Ratings: | Moody’s: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €22.85 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 400 bps
|
| Ratings: | Moody’s: Baa2
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 594 bps
|
| Ratings: | Moody’s: Ba2
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €9.15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 859 bps
|
| Ratings: | Moody’s: B3
|
| Fitch: B-
|
|
|
| Equity
|
| Amount: | €33,724,000
|
| Securities: | Class M-1 subordinated notes
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | €626,000
|
| Securities: | Class M-2 subordinated notes
|
| Ratings: | Non-rated
|
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