Chicago, April 30 – Sound Point Capital Management LP refinanced three classes of notes for $529 million from the 2017 CLO which lists Sound Point CLO XV, Ltd. as issuer, according to a notice.
The portfolio continues to mature on Jan. 23, 2029.
The refinancing notes include the $416 million of class A-RR senior secured floating-rate notes at Libor plus 90 basis points, $74.8 million of class B-RR senior secured floating-rate notes at Libor plus 150 bps and $38.2 million of class C-RR mezzanine secured deferrable floating-rate notes at Libor plus 205 bps.
Originally, the CLO sold $416 million of class A senior secured floating-rate notes at Libor plus 139 bps; $74.75 million of class B senior secured floating-rate notes at Libor plus 175 bps; $38.19 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 250 bps; $36.56 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 360 bps; $32.5 million of class E junior secured deferrable floating-rate notes at Libor plus 596 bps and $66.3 million of subordinated notes.
Sound Point is the collateral manager.
The class D and class E notes with the subordinated notes remain outstanding.
J.P. Morgan Securities LLC is the second refinancing placement agent.
Sound Point Capital is a New York-based asset management firm.
| Issuer: | Sound Point CLO XV, Ltd.
|
| Issue: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | $529 million
|
| Maturity: | Jan. 23, 2029
|
| Agent: | J.P. Morgan Securities LLC
|
| Manager: | Sound Point Capital Management LP
|
| Settlement date: | April 23
|
|
|
| Class A-RR notes
|
| Amount: | $416 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-RR notes
|
| Amount: | $74.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-RR notes
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| Amount: | $38.2 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Moody's: A2
|
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