Chicago, Oct. 6 – Sound Point CLO C-MOA LLC sold €429.2 million in a collateralized loan obligation being issued by Sound Point Euro CLO VI Funding DAC, according to a pre-sale report.
The notes will mature on Oct. 24, 2034.
The CLO consists of €259.25 million of class A senior secured floating-rate notes at Euribor plus 105 basis points, €34 million of class B1 senior secured floating-rate notes at Euribor plus 180 bps, €10.6 million of class B2 senior secured floating-rate notes at Euribor plus 220 bps, €26.55 million of class C senior secured deferrable floating-rate notes at Euribor plus 240 bps, €31.9 million of class D senior secured deferrable floating-rate notes at Euribor plus 360 bps, €21.25 million of class E senior secured deferrable floating-rate notes at Euribor plus 640 bps, €12.75 million of class F senior secured deferrable floating-rate notes at Euribor plus 900 bps and €32.9 million of subordinated notes.
Sound Point CLO C-MOA LLC will manage the collateral through the end of the five-year reinvestment period.
Sound Point is an advisory firm based in New York.
Issuer: | Sound Point Euro CLO VI Funding DAC
|
Issue: | Floating-rate notes and subordinated notes
|
Amount: | €429.2 million
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Maturity: | Oct. 24, 2034
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Structure: | Cash flow CLO
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Manager: | Sound Point CLO C-MOA LLC
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Pricing date: | Sept. 7
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Reinvestment period: | Five years
|
|
Class A notes
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Amount: | €259.25 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Euribor plus 105 bps
|
Rating: | Moody's: AAA
|
|
Class B1 notes
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Amount: | €34 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 180 bps
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Rating: | Moody's: AA
|
|
Class B2 notes
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Amount: | €10.6 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 220 bps
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Rating: | Moody's: AA
|
|
Class C notes
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Amount: | €26.55 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 240 bps
|
Rating: | Moody's: A
|
|
Class D notes
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Amount: | €31.9 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 360 bps
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Rating: | Moody's: BBB-
|
|
Class E notes
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Amount: | €21.25 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 640 bps
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Rating: | Moody's: BB-
|
|
Class F notes
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Amount: | €12.75 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 900 bps
|
Rating: | Moody's: B-
|
|
Subordinated notes
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Amount: | €32.9 million
|
Securities: | Subordinated notes
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