Chicago, Feb. 3 – Voya Alternative Asset Management LLC refinanced $106.6 million from five classes of notes in a partial refinancing of its Voya CLO 2018-4, Ltd./Voya CLO 2018-4 LLC transaction, according to a market source.
The CLO is issuing $16.6 million of class A-1BR 1.57% senior secured fixed-rate notes, $19 million of class A-2AR senior secured floating-rate notes at Libor plus 140 basis points and $5 million of class A-2BR 2.02% senior secured fixed-rate notes.
The transaction also includes $44 million of class B-R senior secured floating-rate notes at Libor plus 165 bps and $22 million class C-R mezzanine secured deferrable floating-rate notes at Libor plus 230 bps.
The notes will be used to redeem the class A-1B notes, the class A-2A notes, the class A-2B notes, the class B notes, the class C-1 notes, the class C-2 notes, the class D notes.
The original transaction had 10 classes of notes, four classes of which will remain outstanding plus the original subordinated notes.
The cash flow CLO is collateralized most by broadly syndicated senior secured corporate loans.
Voya will continue to manage the CLO for the rest of the reinvestment period.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2018-4, Ltd./Voya CLO 2018-4 LLC
|
| Amount: | $106.6 million
|
| Maturity: | Jan. 15, 2032
|
| Securities: | Fixed-rate notes and floating-rate notes
|
| Structure: | Cash flow CLO
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| Manager: | Voya Alternative Asset Management LLC
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| Pricing date: | Dec. 13
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| Announcement date: | Feb. 2
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1BR notes
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| Amount: | $16.6 million
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| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.57%
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-2AR notes
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| Amount: | $19 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 140 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-2BR notes
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| Amount: | $5 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 2.02%
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| Rating: | Moody’s: Aaa
|
|
|
| Class B-R notes
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| Amount: | $44 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 165 bps
|
|
|
| Class C-R notes
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| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
|
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