Chicago, Jan. 10 – Sound Point CLO C-MOA, LLC sold $394.3 million in a collateralized loan obligation being issued by Sound Point CLO 35, Ltd., according to multiple press releases.
The notes will mature on Jan. 26, 2036.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 225 basis points, $18.8 million of class A-2 senior secured floating-rate notes at SOFR plus 285 bps, $40.4 million of class B senior secured floating-rate notes at SOFR plus 310 bps, $22.2 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 400 bps, $23.2 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 576 bps, $13.6 million of class E junior secured deferrable floating-rate notes at SOFR plus 885 bps and $36.1 million of subordinated notes.
Sound Point CLO C-MOA, LLC through its second management series will manage the collateral through the end of the reinvestment period on Jan. 26, 2028.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
The notes can be called starting Jan. 27, 2025.
Sound Point Capital is an asset management firm based in New York.
| Issuer: | Sound Point CLO 35, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $394.3 million
|
| Maturity: | Jan. 26, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Sound Point CLO C-MOA, LLC
|
| Call feature: | Jan. 27, 2025
|
| Settlement date: | Dec. 22
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $18.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $40.4 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22.2 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: AA
|
|
|
| Class D notes
|
| Amount: | $23.2 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 576 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.6 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 885 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36.1 million
|
| Securities: | Subordinated notes
|
|
|
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