By Cristal Cody
Eureka Springs, Sept. 12 – Voya Alternative Asset Management LLC refinanced $371.2 million of notes in five tranches at par in the Voya CLO 2012-4, Ltd./Voya CLO 2012-4 LLC transaction, according to a market source.
The CLO sold $262 million of class A-1-R floating-rate notes at Libor plus 145 basis points. The class A-1 tranche originally priced at Libor plus 139 bps.
The CLO refinanced $45.2 million of class A-2-R floating-rate notes at Libor plus 185 bps. The original class A-2 notes priced at Libor plus 225 bps.
Voya CLO refinanced $28.8 million of class B-R floating-rate notes at Libor plus 250 bps. The class B notes originally were sold at Libor plus 315 bps.
The CLO refinanced $19.2 million of C-R floating-rate notes at Libor plus 425 bps. The class C notes originally priced at Libor plus 450 bps.
The CLO also refinanced $16 million of class D-R floating-rate notes at Libor plus 765 bps. The original class D notes priced at Libor plus 575 bps.
The maturity on the refinanced notes was extended to Oct. 15, 2028 from the original Oct. 15, 2023 due date.
Citigroup Global Markets Inc. was the refinancing agent.
Voya Alternative Asset Management will manage the CLO.
Proceeds will be used to refund the original notes on Sept. 22.
Voya Alternative Asset Management has priced two new CLOs and refinanced one vintage transaction this 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 2012-4, Ltd./Voya CLO 2012-4 LLC
|
| Amount: | $371.2 million
|
| Maturity: | Oct. 15, 2028
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Citigroup Global Markets Inc.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 22
|
|
|
| Class A-1-R notes
|
| Amount: | $262 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa (expected)
|
| S&P: AAA
|
|
|
| Class A-2R notes
|
| Amount: | $45.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
|
|
| Class B-R notes
|
| Amount: | $28.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
|
|
| Class C-R notes
|
| Amount: | $19.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 425 bps
|
| Price: | Par
|
| Rating: | S&P: BBB
|
|
|
| Class D-R notes
|
| Amount: | $16 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 765 bps
|
| Price: | Par
|
| Rating: | S&P: BB
|
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