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
|
| Maturity: | Oct. 24, 2034
|
| Structure: | Cash flow CLO
|
| Manager: | Sound Point CLO C-MOA LLC
|
| Pricing date: | Sept. 7
|
| Reinvestment period: | Five years
|
|
|
| Class A notes
|
| Amount: | €259.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 105 bps
|
| Rating: | Moody's: AAA
|
|
|
| Class B1 notes
|
| Amount: | €34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Rating: | Moody's: AA
|
|
|
| Class B2 notes
|
| Amount: | €10.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Rating: | Moody's: AA
|
|
|
| Class C notes
|
| Amount: | €26.55 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | Moody's: A
|
|
|
| Class D notes
|
| Amount: | €31.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 360 bps
|
| Rating: | Moody's: BBB-
|
|
|
| Class E notes
|
| Amount: | €21.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 640 bps
|
| Rating: | Moody's: BB-
|
|
|
| Class F notes
|
| Amount: | €12.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 900 bps
|
| Rating: | Moody's: B-
|
|
|
| Subordinated notes
|
| Amount: | €32.9 million
|
| Securities: | Subordinated notes
|
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