Chicago, Aug. 19 – Voya Alternative Asset Management LLC refinanced and extended for $304.05 million the collateralized loan obligation issued by Voya CLO 2020-1 Ltd./Voya CLO 2020-1 LLC, according to a pre-sale report.
The notes will now mature on July 16, 2034.
The refinanced CLO consists of $186 million of class A-R senior secured floating-rate notes at Libor plus 115 basis points, $42 million of class B-R senior secured floating-rate notes at Libor plus 170 bps, $18 million of class C-R senior secured deferrable floating-rate notes at Libor plus 210 bps, $18 million of class D-R senior secured deferrable floating-rate notes at Libor plus 310 bps, $11.25 million of class E-R senior secured deferrable floating-rate notes at Libor plus 635 bps and $28.8 million of subordinated notes.
Originally, the CLO sold $185 million of class A floating-rate notes at Libor plus 170 bps, $34 million of class B-1 floating-rate notes at Libor plus 220 bps and $7 million of 2.66% class B-2 fixed-rate notes.
The CLO also originally priced $17 million of class C floating-rate notes at Libor plus 250 bps, $17 million of class D floating-rate notes at Libor plus 425 bps, $9.75 million of class E floating-rate notes at Libor plus 755 bps and $28.8 million of subordinated notes.
Voya Alternative Asset Management LLC will manage the collateral through the end of the reinvestment period on July 16, 2026.
The notes can be called starting July 16, 2023.
Credit Suisse Securities (USA) LLC was the placement agent.
The firm is an affiliate of New York City-based Voya Investment Management LLC.
| Issuer: | Voya CLO 2020-1 Ltd./Voya CLO 2020-1 LLC
|
| Issue: | Floating-rate notes and subordinated notes
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| Amount: | $304.05 million
|
| Maturity: | July 16, 2034
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| Structure: | Cash flow CLO
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| Placement agent: | Credit Suisse Securities (USA) LLC
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| Manager: | Voya Alternative Asset Management LLC
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| Call feature: | July 16, 2023
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| Settlement date: | July 27
|
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|
| Class A-R notes
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| Amount: | $186 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 115 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
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| Amount: | $42 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 170 bps
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| Rating: | S&P: AA
|
|
|
| Class C-R notes
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| Amount: | $18 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Libor plus 210 bps
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| Rating: | S&P: A
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|
|
| Class D-R notes
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| Amount: | $18 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Libor plus 310 bps
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| Rating: | S&P: BBB-
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|
|
| Class E-R notes
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| Amount: | $11.25 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Libor plus 635 bps
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| Rating: | S&P: BB-
|
|
|
| Subordinated notes
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| Amount: | $28.8 million
|
| Securities: | Subordinated notes
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