By Cristal Cody
Tupelo, Miss., July 17 – Voya Alternative Asset Management LLC priced $569 million of notes due July 15, 2027 in the Voya CLO 2015-2, Ltd./Voya CLO 2015-2 LLC deal, according to a market source.
The CLO printed $3 million of class X floating-rate notes at Libor plus 100 basis points at par; $335.5 million of class A floating-rate notes at Libor plus 140 bps at par; $71.5 million of class B floating-rate notes at Libor plus 198 bps at par; $41.25 million of class C floating-rate notes at Libor plus 270 bps at par; $33 million of class D floating-rate notes at Libor plus 340 bps at 95.33; $24.75 million of class E floating-rate notes at Libor plus 530 bps at 92.2 and $60 million of subordinated notes.
Morgan Stanley & Co. LLC was the placement agent.
Voya Alternative Asset Management will manage the CLO, which has a two-year non-call period and a five-year reinvestment period.
The deal is backed primarily by broadly syndicated senior secured corporate loans.
Proceeds from the offering will be used to purchase a portfolio of about $550 million of mostly senior secured leveraged loans.
The firm previously priced the $612.5 million Voya CLO 2015-1 Ltd./Voya CLO 2015-1 LLC transaction on March 3.
Voya Alternative Asset Management, part of New York City-based Voya Investment Management LLC, brought four CLO deals in 2014.
Issuer: | Voya CLO 2015-2, Ltd./Voya CLO 2015-2 LLC
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Amount: | $569 million
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Maturity: | July 15, 2027
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Securities: | Floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | Morgan Stanley & Co. LLC
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Manager: | Voya Alternative Asset Management LLC
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Call feature: | 2017
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Pricing date: | June 23
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Distribution: | Rule 144A
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|
Class X notes
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Amount: | $3 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 100 bps
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Price: | Par
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Ratings: | Moody’s: Aaa expected
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| Fitch: AAA
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|
Class A notes
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Amount: | $335 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 140 bps
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Price: | Par
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Rating: | Moody’s: Aaa expected
|
|
Class B notes
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Amount: | $71.5 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 198 bps
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Price: | Par
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Rating: | Moody’s: Aa2 expected
|
|
Class C notes
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Amount: | $41.25 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 270 bps
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Price: | Par
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Rating: | Moody’s: A2 expected
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|
Class D notes
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Amount: | $33 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 340 bps
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Price: | 95.33
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Rating: | Moody’s: Baa3 expected
|
|
Class E notes
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Amount: | $24.75 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 530 bps
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Price: | 92.2
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Rating: | Moody’s: Ba3 expected
|
|
Equity
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Amount: | $60 million
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Securities: | Subordinated notes
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Ratings: | Non-rated
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