Chicago, Nov. 19 – Voya Alternative Asset Management LLC refinanced and extended for $404.7 million the collateralized loan obligation issued by Voya CLO 2020-3 Ltd./Voya CLO 2020-3 LLC, according to a pre-sale report.
The notes will now mature on Oct. 20, 2034.
The refinanced CLO consists of $4 million of class X-R senior secured floating-rate notes at Libor plus 65 basis points, $248 million of class A-R senior secured floating-rate notes at Libor plus 115 bps, $56 million of class B-R senior secured floating-rate notes at Libor plus 160 bps, $24 million of class C-R senior secured deferrable floating-rate notes at Libor plus 200 bps, $24 million of class D-R senior secured deferrable floating-rate notes at Libor plus 325 bps, $16 million of class E-R senior secured deferrable floating-rate notes at Libor plus 640 bps and $32.7 million of subordinated notes.
The original CLO had $4 million of class X floating-rate notes at Libor plus 65 bps, $221 million of class A-1 floating-rate notes at Libor plus 130 bps, $31 million of 1.59% class A-2 fixed-rate notes and $52 million of class B floating-rate notes at Libor plus 170 bps.
The CLO also originally had $24 million of class C deferrable floating-rate notes at Libor plus 240 bps, $24 million of class D deferrable floating-rate notes at Libor plus 395 bps, $12 million of class E deferrable floating-rate notes at Libor plus 628 bps and $32.7 million of subordinated notes.
Voya Alternative Asset Management LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
The notes can be called starting Oct. 20, 2023.
Citigroup Global Markets Inc. was the placement agent.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2020-3 Ltd./Voya CLO 2020-3 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $404.7 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Oct. 20, 2023
|
| Settlement date: | Oct. 20
|
|
|
| Class X-R notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 65 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-R notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 640 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $32.7 million
|
| Securities: | Subordinated notes
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
