Voya Euro CLO VI DAC: 27 April 2023
The assets securing the Notes will consist of a portfolio of primarily Senior Loans, Senior Secured Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by Voya Alternative Asset Management LLC
Eligibility criteria (includes): it is a Senior Secured Loan, a Senior Secured Bond, an Unsecured Senior Loan, a Mezzanine Obligation, a Second Lien Loan, a Corporate Rescue Obligation, or a High Yield Bond; it is not a Structured Finance Security, letter of credit or a Synthetic Security; it is not a Zero Coupon Security; other than in the case of a Corporate Rescue Obligation (which shall have a rating as determined by the definition of "S&P Rating" and "Fitch Rating", as applicable) it has a Fitch Rating of not lower than "CCC-" and an S&P Rating of not lower than "CCC-"; it is an obligation in respect of which the Obligor (or the guarantor of such obligation) is Domiciled in a Qualifying Country, as determined by the Collateral Manager; it is not a Project Finance Loan; it is not a Deferring Security; it has a minimum purchase price of 60.0% of the Principal Balance of such Collateral Debt Obligation.
The Issuer anticipates that, by the Issue Date, it or the Collateral Manager on its behalf will have purchased or committed to purchase Collateral Debt Obligations the Aggregate Principal Balance of which is equal to at least €285mln, which is approximately 95.0% of the Target Par Amount.
The Notes (other than any Notes being sold directly by the Issuer to the Retention Holder and its Affiliates) are being offered by the Issuer through Barclays Bank PLC in its capacity as placement agent of the offering, subject to prior sale.
EU & UK Risk Retention: The Retention Holder (Voya Alternative Asset Management LLC) will acquire and hold on an ongoing basis for so long as any Class of Notes remains outstanding a material net economic interest of not less than 5% of the nominal value of each Class of Notes then outstanding for the purposes of satisfying the EU Retention Requirements.
US Risk Retention: Based on the LSTA Decision, the US Risk Retention Rules are not expected to apply to the transaction. Neither the Collateral Manager nor any of its Affiliates intend to retain the Minimum Risk Retention Requirement pursuant to the US Risk Retention Rules for any period of time on the basis that it intends to qualify as an "open market CLO".