By Cristal Cody
Tupelo, Miss., March 30 – Voya Alternative Asset Management LLC priced $416.89 million of notes due Oct. 15, 2022 at par in a refinancing of a vintage 2012 collateralized loan obligation offering, according to a market source.
Voya CLO 2012-3, Ltd./Voya CLO 2012-3 LLC sold $294.43 million of class A senior secured floating-rate notes at Libor plus 132 basis points, 13 bps better than where the notes originally priced.
The CLO sold $46.93 million of class B senior secured floating-rate notes at Libor plus 195 bps, 50 bps tighter than the original placement.
The CLO sold $36.32 million of class C secured deferrable floating-rate notes at Libor plus 295 bps, 45 bps tighter than issuance.
The CLO refinanced $20.57 of class D secured deferrable floating-rate notes at Libor plus 395 bps. The notes originally priced at Libor plus 475 bps.
The CLO also sold $18.64 million of class E secured deferrable floating-rate notes at Libor plus 600 bps, 15 bps better than where the notes priced in 2012.
Citigroup Global Markets Inc. arranged the refinancing.
Voya is the CLO manager.
The CLO is backed primarily by broadly syndicated senior secured loans.
Voya Alternative Asset Management is part of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2012-3, Ltd./Voya CLO 2012-3 LLC
|
| Amount: | $416.89 million refinancing
|
| Maturity: | Oct. 15, 2022
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Citigroup Global Markets Inc.
|
| Manager: | Voya Alternative Asset Management LLC
|
| Pricing date: | March 24
|
|
|
| Class A notes
|
| Amount: | $294.43 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 132 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
|
|
| Class B notes
|
| Amount: | $46.93 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Price: | Par
|
| Rating: | Standard & Poor’s: AA
|
|
|
| Class C notes
|
| Amount: | $36.32 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 295 bps
|
| Price: | Par
|
| Rating: | Standard & Poor’s: A
|
|
|
| Class D notes
|
| Amount: | $20.57 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 395 bps
|
| Price: | Par
|
| Rating: | Standard & Poor’s: BBB
|
|
|
| Class E notes
|
| Amount: | $18.64 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 600 bps
|
| Price: | Par
|
| Rating: | Standard & Poor’s: BB
|
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