CLO issuance rises; Oak Hill Advisors brings $861.75 million; Voya prices $607 million CLO

By Cristal Cody

Tupelo, Miss., Nov. 12 – U.S. CLO issuance hit more than $113 billion year to date following transactions from Voya Alternative Asset Management LLC and Oak Hill Advisors, LP, according to data compiled by Prospect News and market sources.

Oak Hill Advisors priced $861.75 million of notes in the OHA Loan Funding 2014-1, LLC eight-part deal that included five tranches of fixed-rate notes, a source said.

The CLO sold $507 million of class A-1 floating-rate notes at Libor plus 153 basis points at the top of the capital structure. At the bottom of the capital stack, the CLO priced $50.5 million of 7.75% class E fixed-rate notes. The deal included $124.95 million of subordinated notes in the equity tranche.

Guggenheim Securities LLC arranged the offering.

The investment firm is based in New York City.

Voya Alternative Asset Management priced $607 million of notes due Oct. 14, 2026 in the Voya CLO 2014-4, Ltd./Voya CLO 2014-4 LLC offering via J.P. Morgan Securities LLC, according to a market source.

The CLO sold $386.75 million of class A-1 floating-rate notes at Libor plus 150 bps at the top of the structure. At the bottom of the capital stack, the CLO priced $5.95 million of class E deferrable floating-rate notes at Libor plus 600 bps. The deal included a $52.7 million equity tranche.

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

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