Sound Point CLO III to redeem seven classes of notes via refinancing

By Wendy Van Sickle

Columbus, Ohio, March 24 – Sound Point CLO III, Ltd./Sound Point CLO III, Inc. plans to redeem seven classes of notes via a refinancing, according to a notice from trustee Bank of New York Mellon Trust Co., NA.

The class A-1, B, C-1, C-2, D, E and F notes would be redeemed on the April payment date under a proposed supplemental indenture.

The securities would be replaced by:

• $248.25 million of class A-1 R floating-rate notes;

• $64.25 million of class B-R floating-rate notes;

• $25 million of class C-1 R mezzanine notes;

• $5 million of class C-2 R mezzanine notes;

• $28.25 million of class D-R mezzanine notes; and

• $22.75 million of class E junior deferrable notes.

Sound Point Capital Management, LP is the collateral manager.

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