Chicago, Jan. 19 – Voya Alternative Asset Management LLC refinanced and extended for $610.4 million the collateralized loan obligation issued by Voya CLO 2019-4 Ltd./Voya CLO 2019-4 LLC, according to a pre-sale report.
The notes will mature on Jan. 15, 2035.
The CLO now consists of $4 million of class X senior secured floating-rate notes at Libor plus 75 basis points, $372 million of class A-1R senior secured floating-rate notes at Libor plus 115 bps, $18 million of class A-2R senior secured floating-rate notes at Libor plus 135 bps, $66 million of class B-R senior secured floating-rate notes at Libor plus 175 bps, $36 million of class C-R senior secured deferrable floating-rate notes at Libor plus 240 bps, $36 million of class D-R senior secured deferrable floating-rate notes at Libor plus 320 bps, $24 million of class E-R senior secured deferrable floating-rate notes at Libor plus 671 bps and $54.4 million of subordinated notes.
Originally, the CLO had $372 million of class A-1 floating-rate notes at Libor plus 134 bps, $18 million of class A-2 floating-rate notes at Libor plus 170 bps and $66 million of class B floating-rate notes at Libor plus 200 bps.
The CLO priced $36 million of class C deferrable floating-rate notes at Libor plus 250 bps, $36 million of class D deferrable floating-rate notes at Libor plus 383 bps, $21 million of class E deferrable floating-rate notes at Libor plus 748 bps and $54.4 million of subordinated notes.
Voya Alternative Asset Management LLC will manage the collateral through the end of the reinvestment period on Jan. 15, 2027.
The collateral pool has broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2024.
Morgan Stanley & Co. LLC was the placement agent.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2019-4 Ltd./Voya CLO 2019-4 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $610.4 million
|
| Maturity: | Jan. 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | Jan. 15, 2024
|
| Settlement date: | Dec. 21
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1R notes
|
| Amount: | $372 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2R notes
|
| Amount: | $18 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Rating: | S&P: NR
|
|
|
| Class B-R notes
|
| Amount: | $66 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 320 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 671 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $54.4 million
|
| Securities: | Subordinated notes
|
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