CLO reprints in focus; Voya prices $417.07 million reset; LCM refinances $277.2 million

By Cristal Cody

Tupelo, Miss., Oct. 24 – Two CLO managers refinanced notes from vintage deals.

Voya Alternative Asset Management LLC priced $417.07 million of notes in a second refinancing of a 2012 CLO. The CLO manager priced the AAA-rated tranche 25 basis points tighter than where it was first refinanced in 2016.

LCM Asset Management LLC refinanced $277.2 million of AAA-rated notes from a vintage 2016 deal.

The class A-1-R notes priced 32 bps better than the level seen in 2016.

About $40 billion of vintage CLOs have been refinanced year to date, market sources report.

In its deal, Voya Alternative Asset Management priced $417.07 million of notes in a second refinancing of the Voya CLO 2012-4, Ltd./Voya CLO 2012-4 LLC transaction, according to market sources and an issuer’s notice of optional redemption.

The CLO sold $245 million of class A-1-a-R-R floating-rate notes at Libor plus 120 bps at the top of the capital stack.

The maturity on the notes was extended to Oct. 15, 2030.

Meanwhile, LCM Asset Management priced $277.2 million of notes due Oct. 20, 2028 in a refinancing of one tranche of notes from the vintage 2016 LCM XXII LP/LCM XXII LLC offering, according to market sources.

The CLO sold $277.2 million of class A-1-R floating-rate notes at Libor plus 116 bps.

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