Voya prices $395.9 million in second CLO offering; CBO/CDO/CLO secondary volume heavy

By Cristal Cody

Tupelo, Miss., Aug. 13 – Voya Alternative Asset Management LLC priced $395.9 million of notes in the manager’s second new dollar-denominated CLO of the year.

The CLO manager priced the class A-1 tranche of floating-rate notes 10 basis points tighter than where it priced the class A-1 tranche in its first offering, the $298.55 million Voya CLO 2020-1, Ltd./Voya CLO 2020-1 LLC deal, on June 12.

Voya CLO 2020-1 had sold $185 million of class A floating-rate notes at Libor plus 170 bps.

Broadly syndicated CLO volume totals more than $44 billion year to date.

Meanwhile, secondary trading volume has been strong this week, according to Trace data.

On Wednesday, $640.94 million high-grade CBO/CDO/CLO notes traded, while volume totaled $1.25 billion on Tuesday.

In its deal, Voya Alternative Asset Management priced $395.9 million of notes due July 20, 2031 in the offering, according to market sources.

Voya CLO 2020-2, Ltd./Voya CLO 2020-2 LLC sold $231 million of class A-1 floating-rate notes at Libor plus 160 bps at the top of the capital stack.

Natixis Securities Americas LLC was the placement agent.

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