Sound Point brings second euro CLO; Audax prices $338.7 million in middle-market CLO

By Cristal Cody

Tupelo, Miss., Dec. 1 – Euro-denominated broadly syndicated CLO and dollar-denominated middle-market CLO supply includes new issuance from Sound Point Capital Management LP and Audax Management Co. (NY) LLC.

Sound Point Capital Management affiliate Sound Point CLO C-MOA, LLC priced €338.08 million of notes in the firm’s second euro-denominated deal this year.

In other primary action, Audax Management sold $338.7 million of notes in the manager’s second middle-market CLO offering of the year.

More than $70 billion of dollar-denominated broadly syndicated CLOs, over €20 billion of European broadly syndicated CLOs and about $8 billion of middle-market CLOs have priced year to date, according to market sources.

In its deal, Sound Point CLO C-MOA priced €338.08 million of notes due Jan. 15, 2035 in the CLO that closed on Tuesday, according to market sources.

Sound Point Euro CLO IV Funding DAC sold €201.5 million of the class A floating-rate notes at Euribor plus 110 basis points.

Citigroup Global Markets Ltd. was the placement agent.

Separately, Audax Management priced $338.7 million of notes due Oct. 20, 2031 in its middle-market CLO, according to market sources.

Audax Senior Debt CLO 4 LLC sold $187 million of class A floating-rate notes at Libor plus 190 bps in the senior tranche.

BofA Securities, Inc. was the placement agent.

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