By Cristal Cody
Tupelo, Miss., April 17 – Voya Alternative Asset Management LLC refinanced $438.4 million of notes due Jan. 18, 2026 from a vintage 2013 collateralized loan obligation offering, according to a market source.
Voya CLO 2013-3, Ltd./Voya CLO 2013-3 LLC sold $320 million of class A-1-R floating-rate notes at par to yield Libor plus 105 basis points, $45.6 million of class A-2-R floating-rate notes at par to yield Libor plus 150 bps, $47.2 million of class B-R floating-rate notes at par to yield Libor plus 215 bps and $25.6 million of class C-R deferrable floating-rate notes at par to yield Libor plus 315 bps.
In the original deal, the CLO priced the class A-1 notes at Libor plus 145 bps, the class A-2 notes at Libor plus 180 bps, the class B notes at Libor plus 270 bps and the class C notes at Libor plus 325 bps.
Credit Suisse Securities (USA) LLC was the refinancing agent.
Voya Alternative Asset Management will continue to manage the CLO.
Proceeds will be used to redeem the original notes on Tuesday.
Voya has priced one new CLO and refinanced two vintage CLOs year to date.
The CLO manager priced four new CLOs and refinanced two vintage transactions in 2016.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2013-3, Ltd./Voya CLO 2013-3 LLC
|
| Amount: | $438.4 million refinancing
|
| Maturity: | Jan. 18, 2026
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Pricing date: | March 31
|
| Settlement date: | April 18
|
|
|
| Class A-1-R notes
|
| Amount: | $320 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 105 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa (expected)
|
| S&P: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $45.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
|
|
| Class B-R notes
|
| Amount: | $47.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
|
|
| Class C-R notes
|
| Amount: | $25.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Price: | Par
|
| Rating: | S&P: BBB
|
© 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.
