Voya Alternative Asset Management plans $517.5 million CLO offering

By Cristal Cody

Tupelo, Miss., July 10 – Voya Alternative Asset Management LLC intends to bring a $517.5 million collateralized loan obligation offering of notes due July 25, 2026, according to a market source.

The Voya CLO 2014-3, Ltd./Voya CLO 2014-3 LLC deal includes $320 million of class A-1 floating-rate notes (//AAA); $53.75 million of class A-2A floating-rate notes; $12.5 million of class A-2B fixed-rate notes; $23.75 million of class B deferrable floating-rate notes; $31.25 million of class C deferrable floating-rate notes; $23 million of class D deferrable floating-rate notes; $8.75 million of class E deferrable floating-rate notes and $44.5 million of subordinated notes.

BofA Merrill Lynch is the placement agent.

Voya Alternative Asset Management will manage the CLO, which is backed primarily by senior secured loans.

The CLO has a two-year non-call period and a four-year reinvestment period.

Proceeds from the deal will be used to purchase a portfolio of about $500 million of leveraged loans.

Voya was last in the market on May 2 with the $516.5 million Voya CLO 2014-2, Ltd./Voya CLO 2014 LLC deal.

The management firm is part of New York City-based Voya Investment Management LLC.

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