Chicago, Feb. 7 – Voya Alternative Asset Management LLC refinanced for €381.3 million a collateralized loan obligation issued by Voya Euro CLO IV DAC, according to a supplemental indenture and multiple notices.
The notes will mature on Oct. 15, 2034.
The refinanced CLO consists of €232.5 million of class A senior secured floating-rate notes at Euribor plus 97 basis points, €31.3 million of class B-1 senior secured floating-rate notes at Euribor plus 175 bps, €7 million of class B-2 2% senior secured fixed-rate notes, €25.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 220 bps, €23.6 million of class D senior secured deferrable floating-rate notes at Euribor plus 310 bps, €18.8 million of class E senior secured deferrable floating-rate notes at Euribor plus 616 bps, €10.9 million of class F senior secured deferrable floating-rate notes at Euribor plus 875 bps and €31.7 million of subordinated notes.
The original CLO had €1 million of class X floating-rate notes at Euribor plus 50 bps, €155 million of class A floating-rate notes at Euribor plus 115 bps, €15.5 million of class B-1 floating-rate notes at Euribor plus 195 bps and €7 million of 2.15% class B-2 fixed-rate notes.
The CLO also originally priced €18.5 million of class C floating-rate notes at Euribor plus 270 bps, €15.3 million of class D floating-rate notes at Euribor plus 425 bps, €13.8 million of class E floating-rate notes at Euribor plus 665 bps, €6.1 million of class F floating-rate notes at Euribor plus 853 bps and €20.8 million of subordinated notes.
Voya Alternative Asset Manager will manage the collateral through the end of the reinvestment period on July 15, 2026.
Collateral for the notes comes from senior, mezzanine, second-lien loans, first-lien and high-yield bonds.
The notes can be called starting July 15, 2023.
Goldman Sachs International was the placement agent.
Voya Alternative Asset Management is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya Euro CLO IV DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €381.3 million
|
| Maturity: | Oct. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs International
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | July 15, 2023
|
| Settlement date: | Dec. 1
|
|
|
| Class A notes
|
| Amount: | €232.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 97 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €31.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €7 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €25.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 310 bps
|
| Price: | Par
|
| Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €18.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 616 bps
|
| Price: | 99
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €10.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 875 bps
|
| Price: | 97
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €31.7 million
|
| Price: | 85
|
| Securities: | Subordinated notes
|
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