Chicago, March 24 – Voya Alternative Asset Management LLC both refinanced and extended its vintage broadly syndicated CLO for $603.05 million that lists Voya CLO 2017-3 Ltd./Voya CLO 2017-3 LLC as issuers, according to a pre-sale report.
The maturity date is now April 20, 2034.
The portfolio now has $6 million of class X-R senior secured floating-rate notes at Libor plus 85 basis points, $362 million of class A-1-R senior secured floating-rate notes at Libor plus 104 bps, $73 million of class A-2A-R senior secured floating-rate notes at Libor plus 155 bps and $10 million of class A-2B-R 3.01% senior secured fixed-rate notes.
Lower, there are $36 million of class B-R senior secured deferrable floating-rate notes at Libor plus 200 bps, $32.75 million of class C-R senior secured deferrable floating-rate notes at Libor plus 315 bps, $21 million of class D-R senior secured deferrable floating-rate notes at Libor plus 695 bps and $9 million of class E-R senior secured deferrable floating-rate notes at Libor plus 870 bps.
Additionally, there are $53.3 million of subordinated notes.
Nomura Securities International Inc. is the refinancing placement agent.
The notes can be called after April 20, 2023.
Voya Alternative Asset Management continues to manage the collateral through the end of the reinvestment period on April 20, 2026.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuers: | Voya CLO 2017-3 Ltd./Voya CLO 2017-3 LLC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | $603.05 million
|
| Maturity: | April 20, 2034
|
| Agent: | Nomura Securities International Inc.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call: | April 20, 2023
|
| Pricing date: | March 24
|
| Settlement date: | April 1
|
|
|
| Class X-R notes
|
| Amount: | $6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 85 bps
|
|
|
| class A-1-R notes
|
| Amount: | $362 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 104 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2A-R notes
|
| Amount: | $73 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-2B-R notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.01%
|
| Rating: | S&P: AA
|
|
|
| Class B-R notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class C-R notes
|
| Amount: | $32.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-R notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 695 bps
|
| Rating: | S&P: BB-
|
|
|
| Class E-R notes
|
| Amount: | $9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 870 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $53.3 million
|
| Securities: | Subordinated notes
|
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