Sound Point CLO VII to repay $466.25 million of notes via refinancing

By Tali Rackner

Norfolk, Va., Dec. 28 – Sound Point CLO VII, Ltd./Sound Point CLO VII, LLC plans to redeem $466.25 million of notes via a refinancing, according to a notice from trustee U.S. Bank NA.

The notes will be redeemed at par plus accrued interest on Jan. 23:

• $315 million of class A notes, for a total redemption price of $316,896,492.33;

• $62.5 million of class B notes, for a total redemption price of $63,002,677.05;

• $32.5 million of class C notes, for a total redemption price of $32,827,114.29;

• $28.75 million of class D notes, for a total redemption price of $29,075,707.14;

• $21.25 million of class E notes, for a total redemption price of $21,557,884.15; and

• $6.25 million of class F notes, for a total redemption price of $6,353,193.05.

Sound Point plans to issue $315 million of class A-R senior, secured notes; $62.5 million of class B-R senior, secured notes; $32.5 million of class C-R mezzanine, deferrable, secured notes; $28.75 million of class D-R mezzanine, deferrable, secured notes; $21.25 million of class E-R junior, deferrable, secured notes; $6.25 million of class F-R junior, deferrable, secured notes and $52.75 million of subordinated notes also on Jan. 23.

Sound Point Capital Management, LP is the collateral manager.

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