Chicago, Oct. 27 – Sound Point Capital Management, LP sold $510.4 million in a collateralized loan obligation being issued by Sound Point CLO XXX, Ltd., based on multiple press releases.
The notes will mature on July 25, 2034.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at Libor plus 117 basis points, $20 million of class A-2 senior secured floating-rate notes at Libor plus 145 bps, $42 million of class B-1 senior secured floating-rate notes at Libor plus 160 bps, $18 million of class B-2 2.86% senior secured fixed-rate notes, $30 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 220 bps, $30 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 335 bps, $20 million of class E junior secured deferrable floating-rate notes at Libor plus 636 bps, $47.8 million of subordinated notes, $1.6 million of class Y notes and $1 million of class Z notes.
Sound Point Capital Management, LP will manage the collateral through the end of the five-year reinvestment period.
J.P. Morgan Securities LLC was the placement agent.
Sound Point Capital is an asset management firm based in New York.
| Issuer: | Sound Point CLO XXX, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $510.4 million
|
| Maturity: | July 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Sound Point Capital Management, LP
|
| Settlement date: | June 25
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $42 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $18 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.86%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 335 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 636 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $47.8 million
|
| Securities: | Subordinated notes
|
|
|
| Class Y notes
|
| Amount: | $1.6 million
|
|
|
| Class Z notes
|
| Amount: | $1 million
|
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