By Cristal Cody
Eureka Springs, Nov. 8 – Voya Alternative Asset Management LLC refinanced $328 million of vintage 2014 CLO notes due April 20, 2026 in four tranches at par, according to a market source.
Voya CLO 2014-1, Ltd./Voya CLO 2014-1 LLC priced $256 million of class A-1-R floating-rate notes at Libor plus 133 basis points, $41 million of class A-2A-R floating-rate notes at Libor plus 185 bps, $12 million of 3.17% class A-2B-R fixed-rate notes and $19 million of class B-R floating-rate notes at Libor plus 260 bps.
Mizuho Securities USA Inc. was the refinancing agent.
Voya Alternative Asset Management will manage the CLO.
The CLO manager has priced three new CLOs and refinanced two vintage transactions year to date.
The affiliate of New York City-based Voya Investment Management LLC priced three CLOs and refinanced two vintage CLO deals in 2015.
| Issuer: | Voya CLO 2014-1, Ltd./Voya CLO 2014-1 LLC
|
| Amount: | $328 million refinancing
|
| Maturity: | April 20, 2026
|
| Securities: | Fixed- and floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Mizuho Securities USA Inc.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Pricing date: | Oct. 31
|
|
|
| Class A-1-R notes
|
| Amount: | $256 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 133 bps
|
| Price: | Par
|
| Expected rating: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2A-R notes
|
| Amount: | $41 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Price: | Par
|
| Expected rating: | Moody’s: Aa2
|
|
|
| Class A-2B-R notes
|
| Amount: | $12 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.17%
|
| Price: | Par
|
| Expected rating: | Moody’s: Aa2
|
|
|
| Class B-R notes
|
| Amount: | $19 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Price: | Par
|
| Expected rating: | Moody’s: A2
|
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