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Prospect News home > News index > List of issuers S > Headlines for Sound Point CLO V, Ltd./Sound Point CLO V Inc. > News item |
Quiet session for CLOs; market-watchers eye Sound Point; primary sees slow start to year
By Christine Van Dusen
Atlanta, Jan. 18 – Sound Point CLO V Ltd./Sound Point CLO V Inc. received some attention on an otherwise quiet Wednesday for the CLO market.
The company is planning to redeem $489.5 million of notes via a refinancing, with the following to be redeemed in full at par plus accrued interest on Jan. 18:
• $390 million of class A notes, for an expected redemption price of $392,443,497.77;
• $37 million of class B-1 notes, for an expected redemption price of $37,263,022.35;
• $30 million of class B-2 notes, for an expected redemption price of $30,321,000; and
• $32.5 million of class C notes, for an expected redemption price of $32,801,630.37.
Sound Point Capital Management, LP is the collateral manager.
Moody’s Investors Service on Wednesday issued a report on the upcoming refinancing deal, considering how it compares to other CLO, SME, Cash Flow CDO and ABS.
Taking a look at the big picture for the CLO market, so far this year there has been one deal, totaling $570 million, according to data from Prospect News. During this same period of time a year ago, there was $407 million in global CLO issuance from one deal.
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