Sound Point CLO III directed to redeem notes, loans on April 16

By Sarah Lizee

Olympia, Wash., March 22 – Sound Point CLO III, Ltd./Sound Point CLO III, Inc. was directed by a majority of its subordinated noteholders to redeem and prepay eight classes of notes and loans and the subordinated notes on April 16, according to a notice.

The notes will be redeemed at par plus accrued interest for the following redemption prices:

• $182,097,757.80 for the class A-1-R notes;

• $36,690,857.29 for the class A loans;

• $64,775,487.90 for the class B-R notes;

• $25,241,970 for the class C-1-R notes;

• $5,049,125 for the class C-2-R notes;

• $28,608,176.10 for the class D-R notes;

• $23,109,536.45 for the class E notes; and

• $10,940,047.10 for the class F notes.

For each subordinated note, the redemption price will be an amount equal to its proportional share of excess principal proceeds payable to the subordinated notes relating to priorities of payment.

Bank of New York Mellon Trust Co., NA is the trustee.

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

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