Pricing emerges for $800.85 million Madison Park Funding CLO, $406 million Voya CLO

By Rebecca Melvin

New York, Jan. 2 – Pricing emerged on two collateralized loan obligations on Wednesday as market participants started 2019 with expectations for continued stability in the CLO market amid weakening loan quality.

The financial markets were closed for the New Year’s Day holiday on Tuesday.

Among recent new issues, Credit Suisse Asset Management, LLC priced an $800.85 million offering of notes due Jan. 22, 2031 in the Madison Park Funding XXXII Ltd./Madison Park Funding XXXII LLC collateralized loan obligation transaction.

The CLO, priced via J.P. Morgan Securities LLC as placement agent, sold $2 million of class X floating-rate notes at Libor plus 60 basis points and $480 million of class A-1 floating-rate notes at Libor plus 120 bps at the top of the capital stack.

In addition, Voya Alternative Asset Management LLC priced $406 million of notes due Jan. 15, 2032 in a broadly syndicated collateralized loan obligation offering, called Voya CLO 2018-4, Ltd./Voya CLO 2018-4 LLC.

This CLO sold $219.47 million of class A-1A senior secured floating-rate notes at Libor plus 122 bps at the top of the capital stack.

Morgan Stanley & Co. LLC arranged the offering.

The Madison Park Funding CLO will close on Jan. 31, and the Voya CLO will close on Jan. 29.

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