Elmwood resets $463.75 million CLO; Voya refinances $31.48 million notes; primary active

By Cristal Cody

Tupelo, Miss., Oct. 19 – October collateralized loan obligation supply is remaining steady in both the new issue market and the refinancing space.

Elmwood Asset Management LLC priced $463.75 million of notes in a refinancing and reset of a vintage 2019 broadly syndicated CLO.

Voya Alternative Asset Management LLC priced $31.48 million of notes in a third partial refinancing of a vintage 2012 broadly syndicated CLO offering.

More than $60 billion of dollar-denominated broadly syndicated CLOs have priced in the primary market this year, in addition to about $30 billion of refinanced CLO notes, according to market sources.

In its deal, Elmwood Asset Management priced $463.75 million of notes in a refinancing and reset of the 2019 CLO, according to market sources.

Elmwood CLO I Ltd. sold $300 million of class A-R floating-rate notes at Libor plus 145 basis points at the top of the capital structure.

Citigroup Global Markets Inc. was the refinancing agent.

Separately, Voya Alternative Asset Management priced $31.48 million of notes due Oct. 15, 2030 in a third partial refinancing of a vintage 2012 broadly syndicated CLO offering, according to market sources.

Voya CLO 2012-4, Ltd./Voya CLO 2012-4 LLC sold $14.98 million of 1.863% class A-1b-R-R-R secured fixed-rate notes (AAA) in the AAA-rated tranche.

BNP Paribas Securities Corp. was the refinancing agent.

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