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CLO supply steady; Voya sells $403.65 million; Kayne Anderson brings $446.35 million
By Cristal Cody
Tupelo, Miss., July 18 – In new CLO issuance, details emerged on two new CLO deals priced in June and expected to close later in July.
Voya Alternative Asset Management LLC priced $403.65 million of notes in the manager’s second CLO offering of the year.
Kayne Anderson Capital Advisors, LP sold $446.35 million of notes in its new deal. Kayne Anderson Capital also has priced two new CLOs year to date.
Voya prices CLO 2019-2
Voya Alternative Asset Management priced $403.65 million of notes in the broadly syndicated CLO offering, according to a market source.
Voya CLO 2019-2, Ltd./Voya CLO 2019-2 LLC sold $242 million of the class A floating-rate notes at par to yield Libor plus 127 basis points.
Citigroup Global Markets Inc. was the placement agent.
The offering is collateralized mostly by broadly syndicated first-lien senior secured loans.
Voya has priced two new CLOs year to date.
The CLO manager 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.
Kayne Anderson prints
Kayne Anderson Capital Advisors priced $446.35 million of notes in its broadly syndicated CLO transaction, according to a market source.
Kayne CLO 5 Ltd./Kayne CLO 5 LLC sold $281.6 million of class A loans at Libor plus 135 bps at the top of the capital stack.
Barclays was the placement agent.
The deal is backed entirely by broadly syndicated first-lien senior secured corporate loans.
The deal is the CLO manager’s second new transaction of the year.
Kayne Anderson Capital Advisors is an alternative asset management firm based in Los Angeles.
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