Voya Alternative Asset Management to refinance $368.1 million Voya CLO 2016-2 notes

By Cristal Cody

Tupelo, Miss., July 24 – Voya Alternative Asset Management LLC plans to price $368.1 million of notes due July 19, 2028 in a refinancing of the Voya CLO 2016-2, Ltd./Voya CLO 2016-2 LLC collateralized loan obligation offering, according to a notice of proposed first supplemental indenture.

Voya CLO 2016-2 intends to price $259 million of class A-1-R floating-rate notes (expected ratings Aaa//AAA), $45.9 million of class A-2-R floating-rate notes (expected ratings Aa2); $25.6 million of class B-R deferrable floating-rate notes (expected ratings A2); $21.2 million of class C-R deferrable floating-rate notes (expected ratings Baa3) and $16.4 million of class D-R deferrable floating-rate notes (expected ratings Ba3).

Credit Suisse Securities (USA) LLC is the refinancing placement agent.

In the original transaction issued July 19, 2016, the CLO priced $259 million of class A-1 floating-rate notes at Libor plus 154 basis points, $45.9 million of class A-2A floating-rate notes at Libor plus 210 bps; $25.6 million of class B floating-rate notes at Libor plus 290 bps; $21.2 million of class C floating-rate notes at Libor plus 425 bps; $16.4 million of class D floating-rate notes at Libor plus 695 bps and $39.15 million of subordinated notes.

Proceeds will be used to redeem the original notes.

Voya Alternative Asset Management is an affiliate of New York City-based Voya Investment Management LLC.

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