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Sound Point CLO XIV will partially refinance five classes of notes
Chicago, Feb. 11 – Sound Point CLO XIV, Ltd. and Sound Point CLO XIV, LLC are planning to partially refinance a vintage collateralized loan obligation transaction by issuing new notes and using the proceeds to redeem the notes from the original transaction.
The CLO will be issuing new class A-R2 senior secured floating-rate notes due 2029, class B-1-R senior secured floating-rate notes, class B-2-R senior secured fixed-rate notes, class C-R mezzanine secured deferrable floating-rate notes and class D-R mezzanine secured deferrable floating-rate notes.
The new notes will be used to redeem the class A-R notes, the class B-1 notes, the class B-2 notes, the class C notes and the class D notes.
The class E notes will remain outstanding.
New York-based Sound Point Capital Management, LP is the collateral manager.
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