Sound Point CLO IX to refinance $437.5 million of notes on Oct. 20

By Tali Rackner

Minneapolis, Oct. 6 – Sound Point CLO IX, Ltd./Sound Point CLO IX, Inc. received direction from its collateral manager to redeem five classes of notes via a refinancing, according to a notice from trustee U.S. Bank NA.

The following will be redeemed at par plus accrued interest on Oct. 20:

• $325 million class A notes, for a total redemption price of $327,347,930.72;

• $32.5 million class B-1 notes, for a total redemption price of $32,774,659.74;

• $25 million class B-2 notes, for a total redemption price of $25,251,250;

• $27.5 million class C notes, for a total redemption price of $27,802,682.17; and

• $27.5 million class D notes, for a total redemption price of $27,841,334.95.

As part of the refinancing, Sound Point CLO IX intends to issue $325 million of class A-R notes, $32.5 million of class B-1-R notes, $25 million of class B-2-R notes, $27.5 million of class C-R notes and $27.5 million of class D-R notes.

New York City-based Sound Point Capital Management, LP is the collateral manager.

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